Jubilant acquires Speciality Molecules for Rs 19.95 cr

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Mumbai, May 8 (UNI) Jubilant Organosys Limited, an integrated pharmaceutical industry player and the largest custom research and manufacturing services company in India, today announced that it had acquired 100 per cent stake in Speciality Molecules Limited, a niche manufacturer of Speciality Intermediates with manufacturing facilities located at Ambarnath, near here, for Rs 19.95 crore.

The purchase consideration was on a debt free, cash free basis, the Company said in a release here.

Speciality Molecules are engaged in developing, manufacturing and selling of speciality intermediates, which includes primarily pyridine derivatives that are used in pharmaceuticals and other life science industry.

The acquisition will be accretive to Jubilant's earnings from the date of acquisition and would strengthen the Company's ability to provide comprehensive offering of pyridine derivatives to the customers in life science industry, Jubilant Chairman and MD Shyam S Bhartia said in the release.

The acquisition was another step in strengthening the global leadership position of the Company in pyridine derivatives, he said.

The move would also further strengthen Jubilant's Halogenation capabilities, Mr Bhartia added.

UNI VK RN SM1630

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