To access underserved markets
Jubilant Life Sciences announced that IFC, a member of the World Bank Group, is lending $147.5 million to Jubilant Pharma to enable better access to quality and affordable pharmaceuticals in underserved markets in India and across the world.Jubilant Pharma, a wholly owned subsidiary of Jubilant Life Sciences, is incorporated in Singapore, with manufacturing operations in India, USA, and Canada.
Of the total financing package, $110 million is from IFC's own account. The remaining $37.5 million is from IFC's Managed Co-Lending Portfolio Program, which provides additional long-term financing through co-financing partners.
The loan will help Jubilant Life Sciences increase focus on the pharmaceutical sector and strengthen its generic drug manufacturing facilities in India.
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