Granules India Limited (BSE: 532482, NSE: GRANULES) has announced the signing of an acquisition agreement for Senn Chemicals AG, a Switzerland-based contract development and manufacturing organization (CDMO) specializing in peptides. This acquisition will enable Granules India to enter the high-growth peptide segment and expand its CDMO business. The transaction is expected to close in the first half of 2025, subject to regulatory approvals.
Senn Chemicals AG, headquartered in Dielsdorf, Switzerland, develops and manufactures peptides and peptide-based applications for global clients. The company provides contract research, development, and manufacturing services across the pharmaceutical, cosmetics, amino acid derivatives (AAD), and theragnostic industries. Senn has expertise in both Liquid-Phase Peptide Synthesis (LPPS) and Solid-Phase Peptide Synthesis (SPPS). Its manufacturing facility is ISO 9001:2015 certified and approved for cGMP production by Swissmedic, with its inspections recognized by the U.S. FDA under a Mutual Recognition Agreement (MRA).
The acquisition aligns with Granules India’s strategic vision to enter the expanding peptide-based anti-diabetic and anti-obesity markets, including GLP-1 receptor agonists and next-generation therapeutics. Granules and Senn have already been collaborating on two GLP-1-based active pharmaceutical ingredients (APIs), with plans to expand the peptide-based API portfolio using Senn’s R&D expertise.
Dr. Krishna Prasad Chigurupati, Chairman & Managing Director of Granules India, stated, “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.”
Dr. Rico Wiedenbruch, Chairman of Senn Chemicals AG, remarked, “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 and global reach in the pharmaceutical industry, we see tremendous potential to accelerate our growth and expand our capabilities in peptide therapeutics.”
Senn Chemicals’ Financial Performance
Senn Chemicals AG recorded annual revenues of CHF 26.3 million in 2022, CHF 26.9 million in 2023, and an estimated CHF 19.6 million in 2024. The acquisition involves the purchase of 100% equity in Senn Chemicals AG for CHF 20 million (approximately INR 1,925 million). The transaction will be conducted through cash consideration.
Strategic Impact of the Acquisition
This acquisition marks Granules India’s foray into the CDMO segment, leveraging Senn’s established customer relationships, European market presence, and innovation-driven peptide platform. By integrating Senn’s capabilities with its own large-scale, cost-efficient manufacturing expertise, Granules India aims to become a key player in peptide-based applications across the pharmaceutical, cosmetics, and theragnostic industries.
Regulatory Approvals & Timeline
The transaction is subject to Swiss regulatory approvals, including compliance with the Swiss Code of Obligations and Lex Koller (Swiss Federal Act on the Acquisition of Real Estate by Persons Abroad). The acquisition is expected to be completed in the first half of 2025.
Advisors
Stifel Nicolaus India served as the exclusive financial advisor to Granules India for this transaction, while Loyens & Loeff acted as legal advisors. Deloitte provided financial and tax due diligence services, and Kroll offered valuation advisory services.