Jubilant Life Sciences looking to acquire speciality pharma business in US

Updated On : 21 Mar , 2017 , 02:01 PM
Representational Image of pharma industry (source: Getty)
Representational Image of pharma industry (source: Getty)
New Delhi :

Jubilant Life Sciences on Tuesday said its subsidiary Jubilant Pharma will negotiate a potential acquisition of a speciality business in the US.

“The Board of Directors of Jubilant Pharma Ltd, a material wholly-owned subsidiary of the company in Singapore, has approved to negotiate a potential acquisition of a speciality pharma business in the United States using only internal accruals,” Jubilant Life Sciences said in a BSE filing.

The potential acquisition will be subject to due diligence, satisfactory agreements, etc and final approval of Jubilant Life Sciences.

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

Shares of Jubilant Life Sciences were trading 0.59 per cent up at Rs 790 apiece on BSE. 

First Published : Tuesday, March 21, 2017 01:37 PM
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