Jubilant Life Sciences surges 9% on $90 mn order

Jubilant Life Sciences has surged 9% to Rs 211 after the company said its subsidiary Jubilant HollisterStier secured contracts worth of $90 million (approx Rs 444 crore) for the commercial manufacturing of sterile parenteral products for sale in the United States and Europe.

“The contract manufacturing & services division of Jubilant HollisterStier, a subsidiary of Jubilant Life Sciences has recently secured contracts with four innovator life science companies for the commercial manufacturing of sterile parenteral products for sale in the United States and Europe,” the pharmaceutical company said in a filing to the stock exchanges.

The total value of these contracts is over $90 million to be delivered over a five year period, it added.

A combined 420,000 shares have changed hands on the counter so far, against an average less than 150,000 shares that were traded daily in past ten trading days on the NSE and BSE.