Rank 11

Jubilant

On an acquisition spree

With three acquisitions over the past year and new contracts in the fray Jubilant Organosys is going great guns.

Jubilant Organosys, an integrated pharmaceutical industry player, is one of the largest custom research and manufacturing services (CRAMS) and drug discovery and development services companies out of India. The company has a presence across the pharmaceutical value chain for products and services such as exclusive synthesis, contract manufacturing, proprietary products, active pharmaceutical ingredients (APIs), generic dosage forms, drug discovery services, drug development services, chemistry services, clinical research services, steriles (injectables including lyophilized products, creams and liquids), non-steriles (tablets, lotions, ointments) and radiopharmaceuticals. The company's drug discovery and development business in 2007-08 was estimated to be about Rs 159 crore.

In June 2007, Jubilant announced the largest overseas acquisition in contract manufacturing by an Indian company, through its purchase of Hollister-Stier Laboratories (Hollister). Contract manufacturing of sterile injectables at Hollister has strengthened Jubilant's pharmaceuticals and life science products segment.

In December 2007, Jubilant entered into a collaboration agreement with US-based Forest Laboratories Holdings to discover small molecule drug candidates for a novel metabolic disorders target. Jubilant Biosys will conduct the drug discovery work and Forest will have responsibility for the subsequent pre-clinical and clinical development. Under the terms of the collaboration, Forest will pay Jubilant undisclosed amounts towards research funding, development and commercialization milestones.

In May this year, Jubilant also acquired Speciality Molecules, a niche manufacturer of specialty intermediates with manufacturing facilities located in Ambarnath (near Mumbai) in India. The company had also announced new contracts worth $92 million for its proprietary products and exclusive synthesis segment under CRAMS business for the present calendar year (CY 2008). The increase in size is 50 percent as compared to last year. The new contracts have been signed with prominent international pharma and other life science companies.

Only recently the company completed the transaction effective May 28 to acquire Canada-based Draxis Speciality Pharmaceuticals (Draxis) for approximately US$ 255 million.