• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Port Info

• Ships in Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• The Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

New Delhi , July 1

JUBILANT Organosys Ltd has acquired 64 per cent equity in the US-based generic pharmaceuticals company Trinity Laboratories Inc and its wholly owned subsidiary Trigen Laboratories Inc.

As per the agreement signed, Jubilant will acquire the stake for cash payment of $12.25 million, of which $8.25 million will be paid to the existing shareholders while the remaining would be used as growth capital. It will invest an additional $8.42 million until December 2006, which will enhance its holding in Trigen to 75 per cent.

Trigen Laboratories manufactures generic dosage forms and has a USFDA approved manufacturing facility in Maryland, US. It has an annual production capacity of 650 million tablets and 35 million capsules that can be enhanced to one billion tablets a year.

The product portfolio of Trigen focuses on the therapeutic areas of central nervous system (CNS) and cardiovascular system (CVS), including anti-hypertensive, diuretic and andrenocortical steroids. It has six approved abbreviated new drug approvals (ANDAs) and another two applications are awaiting clearances. It also has a pipeline of 14 products, of which ANDAs for five products would be filed during the current calendar year.

Jubilant too has a presence in the CNS and CVS segments and hence the company sees synergies in the US acquisition. In a statement, Mr Shyam S. Bhartia, Chairman and Managing Director, and Mr Hari S. Bhartia, Co-Chairman and Managing Director, Jubilant Organosys, said, "The acquisition furthers our objective of strengthening our position in the global pharma industry and facilitates our entry into the high opportunity US market. With Jubilant's API (active pharmaceutical ingredient) manufacturing capabilities and R&D expertise being complemented by Trigen Laboratories' USFDA approved dosage forms manufacturing capabilities, we are now well-positioned to enhance our standing in the higher end of the life sciences value chain."

Dr T. Bharathan, Chairman, and Dr Jagan Reddy, CEO, Trigen Laboratories, added, "We believe that Trigen will provide an added dimension to Jubilant's operations and will help accelerate the achievement of its growth objectives."

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
India signs capital gains tax pact with Singapore

Copyright © 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line