Govt Clears Cohance-Suven Pharma Merger, Higher Foreign Investment Limit

Suven Pharmaceuticals Ltd. on Tuesday said it has received government approval for a potential increase in foreign investment in the company beyond 74%.

In an exchange filing, the company announced that the Department of Pharmaceuticals, under the Ministry of Chemicals and Fertilizers, has also approved the merger of Cohance Lifesciences Ltd. with Suven Pharma.

The merger will take effect from the opening business hours of the first day of the month following the fulfilment of all conditions specified in the scheme of amalgamation, the company added.