Suven Pharmaceuticals acquired a 56% controlling stake in NJ Bio Inc, a US-based CRDMO specializing in antibody-drug conjugates (ADC) and other emerging modalities

The investment, valued at ₹535 crore, strengthens Suven’s position in the high-growth ADC market, which is valued at $2.7 billion and projected to grow at over 25% annually

NJ Bio, based in Princeton, New Jersey, has completed over 500 projects for more than 150 clients and is expected to generate $32 million (approx ₹270 crore) in revenue for 2024

Suven invested ₹411 crore to acquire shares from minority stakeholders and ₹124 crore in primary equity to support NJ Bio’s capacity expansion at its 80,000 square foot facility

The acquisition is expected to expand Suven’s addressable market from ₹1,600 crore to ₹11,600 crore by the end of 2024