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Advent-controlled Suven Pharma appoints former Piramal exec as chairman

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Advent-controlled Suven Pharma appoints former Piramal exec as chairman

Suven Pharmaceuticals, controlled by private equity firm Advent International, has appointed Vivek Sharma as its new executive chairman. Sharma, former CEO of Piramal Pharma Solutions, takes over from Annaswamy Vaidheesh, who will become vice-chair of Suven's Advisory Council. The move comes as Advent plans to merge its pharmaceutical portfolio companies Cohance Lifesciences and Suven to create a diversified contract development and manufacturing organization and active pharmaceutical ingredients leader in India. Advent acquired a majority stake in Suven in December 2022. Suven reported a net profit of INR 300.3 crore ($39.8 million) for the fiscal year 2023-2024, down 27% from the preceding year.

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