Hyderabad(Sep, 29) : Advent International, a prominent global private equity investor, is making significant inroads into Hyderabad’s thriving life sciences sector with a substantial INR 9,589 crore investment. This investment includes acquiring a controlling stake in Suven Pharmaceuticals and the establishment of a 50,000 square-foot R&D laboratory in Genome Valley. The ambitious growth plans of Advent were discussed during a meeting with key stakeholders, including Pankaj Patwari, Managing Director of Advent International, and government officials such as Minister KT Rama Rao.
Advent’s commitment to Hyderabad’s pharmaceutical sector is further solidified by the creation of the “Cohance platform,” which encompasses its API and contract development and manufacturing businesses. This platform, headquartered in Hyderabad, marks a significant milestone in the city’s emergence as a hub for pioneering life sciences innovation and exponential growth. With a combined investment of approximately USD 2 billion, Advent aims to become one of the top three API and Contract Development and Manufacturing (CDMO) companies/platforms in Asia. The partnership between Advent and the Government of Telangana demonstrates the convergence of visionary leadership and a conducive business environment, further enhancing Hyderabad’s reputation as a dynamic and promising destination for the life sciences industry
The growth story of Advent in Hyderabad’s life sciences sector serves as a testament to the robust partnership between global investors and the state’s thriving ecosystem. As the region continues to attract investments, it reaffirms Hyderabad’s reputation as a dynamic and promising destination for the life sciences industry. Furthermore, the collaboration between Advent and the Government of Telangana signifies the convergence of visionary leadership and a conducive business environment.
