Boston, MA headquartered private equity firm Advent International completed its acquisition of a majority stake in India’s Hyderabad-based Suven Pharmaceuticals, a contract research and manufacturing services (CRAMS) company.
The company announced changes to Suven’s board. which will now be led by Annaswamy Vaidheesh as Executive Chairman, V. Prasada Raju as Managing Director, and Sudhir Kumar Singh as CEO. to help drive Suven’s next phase of growth as a CRAMS provider.
Vaidheesh has over 35 years of experience including leadership roles at GSK India, J&J Asia Pacific, and as President of the Organization of Pharmaceutical Producers of India. Raju has over 29 years in the industry with Granules India, Dr Reddy’s and others. Singh was previously COO at Aragen Life Sciences.
In December 2022, Advent acquired a 50.1% stake in Suven from the Jasti family at $6 per share, with plans for a 26% open offer. Suven founder Venkateswarlu Jasti and other pharmaceutical industry veterans have been appointed to an advisory council.
Advent Managing Partner Shweta Jalan said the new leaders are industry stalwarts and the right team to deliver on Advent’s vision for Suven. Vaidheesh aims to leverage their expertise and Suven’s capabilities to provide high-quality services to global customers, calling this a “transformational journey.”
