Jubilant Life Sciences looking to acquire speciality pharma business in US

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.