Jubilant Life arm inks pact to acquire Inipharm Inc for around USD 28.5 mn

NEW DELHI: Drug firm Jubilant Life Sciences Thursday said its subsidiary Drug Discovery and Development Solutions Ltd (DDDSL) Singapore has entered into an agreement to acquire 10 per cent stake in Inipharm Inc USA for around USD 28.5 million (over Rs 199 crore).

The company’s wholly-owned subsidiary has entered into a stock purchase agreement to acquire 534,194 shares of common stock of biotechnology firm Inipharm Inc USA, for a cash consideration of USD 534.20 per share, Jubilant Life Sciences said in a filing to BSE.

The indicative time period for completion of the acquisition is three months, it added.

Shares of Jubilant Life Sciences were trading at Rs 740.50 per scrip in the afternoon trade on the BSE, up 6.61 per cent from their previous close.

  • Related Posts

    Sun Pharma will Need HC Nod for Semaglutide Tablet Launch

    Novo Nordisk submitted that a restraint order was required as Sun Pharma was ready to launch semaglutide tablets in the market the moment it would have marketing approval. And once…

    Bombay HC tells Maharashtra FDA to be ‘judicious’ after Cadila challenges order to ban sale of some medicines

    MUMBAI: The Bombay High Court on Tuesday directed the Maharashtra Food and Drug Administration (FDA) to act “judiciously” after Cadila Pharmaceuticals Ltd challenged orders stopping the sale of some of…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Sun Pharma will Need HC Nod for Semaglutide Tablet Launch

    Sun Pharma will Need HC Nod for Semaglutide Tablet Launch

    Bombay HC tells Maharashtra FDA to be ‘judicious’ after Cadila challenges order to ban sale of some medicines

    Bombay HC tells Maharashtra FDA to be ‘judicious’ after Cadila challenges order to ban sale of some medicines

    ‘Erring pharma companies’: Over 1,000 cough syrup manufacturers undergo intense audits

    ‘Erring pharma companies’: Over 1,000 cough syrup manufacturers undergo intense audits

    Maharashtra FDA permanently cancels Pune-based pharma firm’s license over six contaminated medicines, GMP lapses

    Maharashtra FDA permanently cancels Pune-based pharma firm’s license over six contaminated medicines, GMP lapses

    Amneal Pharma completes acquisition of Kashiv BioSciences

    Amneal Pharma completes acquisition of Kashiv BioSciences

    Delhi High Court Directs Meesho to Remove Alleged Counterfeit Sun Pharma Sunscreen Listings

    Delhi High Court Directs Meesho to Remove Alleged Counterfeit Sun Pharma Sunscreen Listings