Jubilant Organosys Ltd., (Jubilant) an integrated pharmaceutical industry player and India's largest custom research and manufacturing services, has acquired Canada based Draxis Speciality Pharmaceuticals Inc. (Draxis).
Draxis is a debt free company and Jubilant is financing US $253 million transaction using a combination of proceeds from a previous FCCB issue and debt amounting to US $160 million. Given the attractiveness of the business model and the opportunities available in radiopharmaceuticals the transaction is likely to have a very attractive payback.
The details can be read here.
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