New Delhi: Pharma company Suven Life Sciences may sell the recently demerged CRAMS business. Barclays have been appointed for this sale according to the market going on. The stake sale process will start soon. Explain that the company is in contract research and manufacturing business.
The company’s promoters want a special focus on research. It has therefore been decided to sell the CRAMS business. The company has also applied for listing on the exchange. The valuations of CRAMS business are also very good. Barclays declined to comment on the deal. At the same time, Suven Life has not yet answered the questions made in this regard.
Significantly, in the last 15 trading sessions, Suven Life Sciences has seen a jump of 70 percent. Suven Life Sciences is a Hyderabad based company. CRAMS is in the contract research and manufacturing business. Suven Life Sciences has annual sales of around Rs 690 crore. Its annual profit is also around Rs 150 crore.
