Jubilant Organosys Ltd., an integrated pharmaceutical company which is also the largest custom research and manufacturing services company in India, has acquired Speciality Molecules Pvt. Ltd., a niche manufacturer of Speciality Intermediates with manufacturing facilities located in Ambernath, near Mumbai. The purchase consideration to acquire 100 per cent stake is Rs 199.5 million on a debt free, cash free basis.
The acquired company is engaged in the business of developing, manufacturing and selling of specialty intermediates, which include 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 will strengthen Jubilant's ability to provide comprehensive offering of pyridine derivatives to the customers in life science industry.
According to Shyam S Bhartia, chairman and MD and Hari S Bhartia, Co-chairman and managing director of Jubilant Organosys, 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 for various life science 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".
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