Jubilant Life eyes speciality pharma biz acquisition in US

Jubilant Life eyes speciality pharma biz acquisition in US

21/03/2017 13:04

Drug maker Jubilant Life Sciences Ltd on Tuesday said its wholly owned subsidiary, Jubilant Pharma Ltd (JPL), likely to negotiate a potential acquisition of a speciality business in the US.

“The Board of Directors of Jubilant Pharma Ltd (JPL), a material wholly owned subsidiary of the company in Singapore, has approved to negotiate a potential acquisition of a specialty pharma business in the United States using only internal accruals, subject to due diligence, satisfactory agreements, etc. and its final approval,” Jubilant Life Sciences Ltd said in a filing to the Bombay Stock Exchange on March 21, 2017.

The company further said that, the proposed acquisition is a niche, profitable speciality pharma business with a strategic fit and is expected to provide competitive edge for JPL’s existing business, if it materialises.

Meanwhile, shares of the company were trading at Rs 785.85 apiece, up 0.06 per cent, from previous close on BSE at 13:09 hours.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s