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New Delhi, May 8 Jubilant Organosys Ltd, an integrated pharmaceutical industry player and custom research and manufacturing services company, has acquired Speciality Molecules Pvt Ltd, a niche manufacturer of speciality intermediates, for Rs 20 crore.

Speciality Molecules has manufacturing facilities in Ambarnath (near Mumbai).

The purchase consideration to acquire 100 per cent stake is on a debt-free, cash-free basis.

The acquired company is engaged in the business of developing, manufacturing and selling speciality intermediates, which include primarily pyridine derivatives that are used in pharmaceuticals and other life sciences industry.

“The acquisition will be accretive to Jubilant’s earnings from the date of acquisition and will strengthen the company’s ability to provide comprehensive offering of pyridine derivatives to the customers in the life sciences industry,” a press release said.

Commenting on the development, Mr Shyam S. Bhartia, Chairman & Managing Director, Jubilant Organosys, said, “the acquisition of Speciality Molecules is yet another step in strengthening our global leadership position in pyridine derivatives. This acquisition will further strengthen Jubilant’s halogenation capabilities as we plan to sell and also use these speciality intermediates captively for various life sciences derivatives, which will help us to offer products based on a common platform at very competitive prices to our global customers who are sector leaders in the pharma and agrochemicals business.” Jubilant’s share price went up 1.3 per cent to Rs 374 at close on Thursday on the BSE.

More Stories on : Mergers & Acquisitions | Pharmaceuticals

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