Jubilant Organosys acquires Speciality Molecules for about Rs20 crore
08 May 2008
Drugs and chemicals firm Jubilant Organosys Ltd has acquired 100 per cent stake in Speciality Molecules Pvt Ltd for Rs19.95 crore, to strengthen its pyridine derivatives business.
Jubilant Organosys, an integrated pharmaceutical company, has the largest custom research and manufacturing services company in India.
Speciality Molecules Limited is a niche manufacturer of speciality intermediates with manufacturing facilities located at Ambarnath, near Mumbai.
The company is engaged in developing, manufacturing and marketing of speciality intermediates, which include primarily pyridine derivatives that are used in pharmaceuticals and other life science industry.
The purchase consideration was on a debt-free, cash-free basis, the company said in a release.
The acquisition will reflect in 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 managing director 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, Bhartia added.
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