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Suven Life Sciences said it has received approval from a US bankruptcy court to buy assets of Rising Pharmaceuticals through its joint venture partner Shore Suven Pharma, reported Business Standard.
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The company has completed a "stalking horse agreement" as mandated by the bankruptcy court to buy the assets of Rising, Suven stated in a regulatory filing.
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The transaction is expected to close on April 19, according to the news source.
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"Leveraging Rising's extensive product portfolio and vertically integrating with Suven's world class [active pharmaceutical ingredients] and finished dose manufacturing capabilities will enable us to better serve US customers," said Shore Suven Pharma CEO Vimal Kavuru.
