PE firm Advent upbeat about Hyderabad’s Life Sciences sector, plans to invest more
The Hindu
PE firm Advent upbeat about Hyderabad’s Life Sciences sector, plans to invest more
A leadership team of Advent International, the globally leading PE firm that is picking up a controlling stake in Suven Pharmaceuticals for ₹9,589 crore and setting up a 50,000 sq ft research and development lab in Genome Valley here, met Industries and IT Minister K.T. Rama Rao on Friday and discussed its investment and growth plans in Hyderabad.
Advent’s $2 billion Cohance platform is to be headquartered in Hyderabad, bolstering the State’s thriving Life Sciences ecosystem, the Minister’s office said following his meeting with Advent International managing director Pankaj Patwari and Operating Partner Vaidheesh Annaswamy, in which Industries and IT Secretary Jayesh Ranjan and CEO of Telangana Life Sciences Shakthi M. Nagappan participated.
The Cohance platform encompasses Advent’s API and contract development and manufacturing businesses — RA Chem Pharma, ZCL Chemicals and Avra Laboratories — and reiterates the PE firm’s commitment to the Hyderabad pharmaceutical sector.
The current investments underscore Advent’s dedication to bolstering its Cohance platform with a combined investment of about $2 billion (approx ₹16,650 crore), the largest of its kind in Asia. Advent firm wants it to be among the top three API and CDMO companies or platforms.
“The expansion reaffirms our commitment to driving innovation, growth and value creation in partnership with the dynamic ecosystem of the region. We are looking at making additional investments to further strengthen the position of the Cohance platform,” Mr. Patwari said.
The Minister’s office said that the investments also mark a significant advancement in the city’s trajectory as an emerging hub for pioneering life sciences innovation and exponential growth.
“Advent’s journey of multiple investments and remarkable expansion in Telangana exemplifies the vibrant ecosystem the government and industry partners have collaboratively nurtured,” said Mr. Rao.
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