The board of Hyderabad headquartered drug firm Suven Pharmaceuticals Ltd (SPL) has decided to acquire Casper Pharmaceuticals Pvt Ltd (CPPL) for Rs 155 crore

CPPL is a Hyderabad based SEZ (special economic zone) company

The acquisition will make CPPL a wholly-owned subsidiary of SPL

CPPL has an installed capacity of 120 crore tablets and capsules and is ready for the United States Food and Drug Administration (USFDA) inspection expected in the next six month

CPPL has an installed capacity of 120 crore tablets and capsules and is ready for the United States Food and Drug Administration (USFDA) inspection expected in the next six month

SPL said CPPL is engaged in manufacturing and supplying of solid oral dosage formulations including tablets, capsules and liquid oral products in the United States and other regulated market

The acquisition of CPPL will be completed within 30 days from the closing of definitive agreement

SPL chairman and MD Venkateswarlu Jasti  told that the acquisition of CPPL could save a significant and efforts for them to build a world-class formulations facility

Also said, The USFDA-inspection-ready facility of CPPL is expected to commence revenue generation over the 6-9 months with several long-term contracts on hand