Suven Pharmaceuticals Limited has acquired a 56% controlling stake in NJ Bio Inc, a US-based Contract Research and Development Manufacturing Organisation (CRDMO) specialising in antibody-drug conjugates (ADC) and other emerging modalities. The investment, valued at ₹535 crore, strengthens Suven’s position as a technology-driven CDMO and marks a significant expansion of its footprint in the high-growth ADC market, the company said.

The transaction positions Suven as a key player in the ADC outsourcing market, which is currently valued at $2.7 billion (approx ₹22,815 crore) and projected to grow at over 25% annually. NJ Bio, headquartered in Princeton, New Jersey, has served over 150 clients and completed more than 500 projects since its inception. Its projected revenue for 2024 stands at $32 million (approx ₹270 crore), a growth trajectory of 70% CAGR since 2021.

As part of the deal, Suven has invested ₹411 crore to acquire shares from minority stakeholders and ₹124 crore in primary equity, which will fund capacity expansion at NJ Bio’s state-of-the-art 80,000 square foot facility in Princeton. The agreement includes a call/put option enabling Suven to purchase the remaining stake after five years.

The transaction, expected to close by the end of December 2024, will help Suven Pharma expand its addressable market from ₹1,600 crore to ₹11,600 crore.

Also Read: Reliance Power unit Samalkot Power settles $15.48 million loan default