Monday, 17 December 2018

Jubilant Life arm inks pact to acquire Inipharm Inc

01 December 2018 | News

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.

Drug firm Jubilant Life Sciences has said that its subsidiary Drug Discovery and Development Solutions Ltd 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.

 

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