Cohance Lifesciences Limited — Updates, 12-11-2024: Press Release

Suven Pharmaceuticals Ltd. reported financial results for the second quarter and half-year. Revenue reached INR 258 Cr., reflecting a 12% YoY growth, with gross margins expanding by 473 bps, attributed to a solid business mix and consolidation of the newly acquired oligonucleotide business. The adjusted EBITDA stood at Rs 112 Cr., showcasing EBITDA margins of 43.3%. The Pharma CDMO segment recorded a robust 40% YoY growth driven by new business development efforts.

Strategically, the company has expanded its Phase III pipeline and achieved positive results from one of its read-outs. RFQ inflows surged 2.2 times compared to H1FY24, indicating a healthy demand environment. Efforts to convert SpecChem/AgChem into a Strategic Business Unit are underway, with early signs of recovery in AgChem. The management maintains a confident outlook for the remainder of FY25, anticipating growth acceleration from FY26. Overall, Suven is well-positioned amid favorable market dynamics, suggesting a positive outlook for investors.