How this Advent PE-backed Indian firm is prepping to take on Chinese big pharma
Synopsis
Advent, which merged Suven Pharma with Cohance Lifesciences in February, looks to take advantage of the China+1 wave and other geopolitical tailwinds. While the skills of its scientists give India an edge in pharma outsourcing, the scale of local contract manufacturers pales in front of global rivals from China and Europe. Can Advent change this narrative?
Last September, when bulge-bracket private equity (PE) fund Advent International picked Annaswamy Vaidheesh, a seasoned MNC professional, to lead the management team at Suven Pharma, it was a sneak peek into the drastic makeover the low-profile Hyderabad-based company might go through. For Vaidheesh, the job was cut out – lead a contract development and manufacturing organisation (CDMO) and scale it. Pulling contracts from the western pharma and
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