| Senn Chemicals AG, a Swiss-based CDMO specializing in peptides. It develops and manufactures, Peptides and peptides based applications for its global customers, providing contract research, development, and manufacturing services. Its revenue for CY23 was CHF 26.9 million and it had estimated sales of CHF 19.6 million in the calendar year (CY) 2024. The acquisition brings Senn's expertise in liquid-phase peptide synthesis (LPPS) and solid-phase peptide synthesis (SPPS), along with a strong CDMO business and established customer relationship, including innovators and brand owners across Pharma, Cosmetics, Amino Acid Derivatives (AAD) & theragnostic segments. This acquisition enables Granules' acquiring capabilities into high-growth peptide-based therapeutics. The acquisition aligns with Granules' vision to enter the rapidly expanding peptide-based anti-diabetic and anti-obesity market, including GLP-1 receptor agonists and other next-generation therapeutics. Granules and Senn have been developing two GLP-1 based APIs, and both the projects are progressing well, and more peptide-based APIs are planned to be added in the portfolio, to be developed using Senn's R&D capabilities. The transaction is expected to be completed in the first half of calendar year 2025. Krishna Prasad Chigurupati, chairman & managing director, Granules India, said, The acquisition of Senn Chemicals AG marks a significant milestone in Granules' strategic growth journey. By entering the rapidly growing peptide therapeutics segment and acquiring CDMO capabilities, we are expanding into next-generation therapeutics that align with our commitment to innovation and affordability. Senn's expertise in peptide synthesis, coupled with our large-scale, cost-efficient manufacturing capabilities, positions us to deliver high-quality peptide-based solutions globally. This acquisition is a pivotal moment in our vision to transform Granules to a science and innovation led organization and become a trusted partner in complex and specialized therapeutics. Rico Wiedenbruch, chairman, Senn Chemicals AG, said, We are excited to join forces with Granules India, a company that shares our commitment to scientific excellence and customer-centric innovation. With Granules' scale, operational efficiency, and global reach in pharmaceuticals industry, we see strategic fit and tremendous potential to accelerate our growth and expand our capabilities in rapidly growing peptide therapeutics. This partnership strengthens our ability to serve our customers with best-in-class CDMO solutions while driving innovation in peptide development and manufacturing. Meanwhile, the company's board approved incorporation of a wholly owned subsidiary in India for the aforementioned acquisition. The name of the proposed wholly-owned subsidiary (WOS) will be as approved by the Ministry of Corporate Affairs (MCA), Government of India. The company shall be incorporated with an authorized share capital of Rs 500 crore and a paid-up share capital of Rs 200 crore. Granules India is primarily involved in the manufacturing and selling of active pharmaceutical ingredients (APIs), pharmaceutical formulation intermediates (PFIs), and finished dosages (FDs). The company's consolidated net profit fell 6.41% to Rs 117.60 crore on 1.55% decline in total revenue from operations to Rs 1,137.70 crore in Q3 FY25 over Q3 FY24. The counter declined 3.48% to end at Rs 509 on Friday, 21 February 2025. Powered by Capital Market - Live News |