Rising Pharma Holdings, Inc. Completes Purchase of Rising Pharmaceuticals, Inc.

Rising Pharma Holdings, Inc., f. k. a. Shore Suven Pharma, Inc., announced today that it completed the purchase of the assets of Rising Pharmaceuticals and Rising’s subsidiaries on a cash-free and debt-free basis. Shore Suven Pharma, Inc., created as an acquisition entity to acquire the assets and affiliates of Rising Pharmaceuticals, Inc. will hereafter be called, Rising Pharma Holdings, Inc. Rising Pharmaceuticals will continue to operate seamlessly and transact all business under the Rising brand, working with its industry leading suppliers to service its customers. “We are very excited to close this transaction and begin working with the amazing staff of Rising Pharmaceuticals. Engaging Rising’s suppliers is a top priority to ensure continuity of product supply to the company’s valued customers. We have an experienced generic pharmaceutical management team ready to facilitate a smooth transition while maximizing the value of these assets,” said Mr. Vimal Kavuru, CEO of Rising Pharma Holdings. “We are extremely pleased to expand our global footprint through this transaction. Rising’s extensive product portfolio will allow us to leverage our strengths to better serve our U.S. customers,” said Mr. Venkat Jasti, CEO and Chairman of Suven Life Sciences.