Alivus Life Sciences Acquires 76% Stake in IQGEN-X Pharma

Alivus Life Sciences to acquire 76% stake in IQGEN-X Pharma for ~INR 9.12 crore.

Reader Takeaway: Alivus expands API/CDMO offerings; IQGEN-X turnover is modest, completion conditions are key.

What just happened

Alivus Life Sciences Ltd has signed an agreement to buy a 76% stake in IQGEN-X Pharma Private Limited for about INR 9.12 crore in cash. The deal is expected to be completed by December 6, 2026, and is not a related party transaction.

Why this matters

This acquisition is expected to strengthen Alivus's position in the Active Pharmaceutical Ingredients (API) and Contract Development and Manufacturing Organization (CDMO) segments. Management believes it will allow Alivus to offer complete end-to-end solutions to its customers, broadening its service spectrum.

The backstory

IQGEN-X Pharma Private Limited was incorporated in 2016 and focuses on formulation development for oral solids, sterile injectables, and ophthalmic solutions. Its turnover for FY24 was INR 2.68 crore, rising to INR 3.18 crore in FY25 and projected at INR 3.48 crore for FY26.

What changes now

The integration of IQGEN-X's capabilities is intended to enhance Alivus Life Sciences' service portfolio, particularly in specialized pharmaceutical development and manufacturing.

Risks to watch

The acquisition is subject to certain conditions precedent. If these conditions are not met by the deadline, Alivus has agreed to acquire IQGEN-X's entire business through a Business Transfer Agreement, ensuring the strategic objective can still be met.

Peer comparison

While specific peer data isn't in the filing, Alivus Life Sciences operates in the competitive API and CDMO market, where consolidation and capacity expansion are common strategies for growth.

Context metrics (time-bound)

• IQGEN-X Pharma Turnover:
  • 2023-24: INR 2.68 crore
  • 2024-25: INR 3.18 crore
  • 2025-26: INR 3.48 crore (Projected)

What to track next

Investors will be watching for the fulfillment of the conditions precedent for the share purchase and the successful integration of IQGEN-X to achieve the stated strategic goals.