This site is intended for Healthcare professionals.
×

Jubilant Life joins hand with Inipharm Inc for over Rs 199 crore

................................ Advertisement ................................


business medical dialogues

NEW DELHI: Drug firm Jubilant Life Sciences on 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.

................................ Advertisement ................................

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.

................................ Advertisement ................................

Spread the love

Author Details

Medical Dialogues Bureau

Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

Source: PTI
0 comment(s) on Jubilant Life joins hand with Inipharm Inc for over Rs 199 crore

Share your Opinion Disclaimer

Sort by: Newest | Oldest | Most Voted