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Jubilant Life Sciences' subsidiary to acquire Inipharm for around $28.5 mn

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

Press Trust of India  |  New Delhi 

Approval for generics drug up but US business shrinks for home firms

Drug firm Thursday said its subsidiary and Development Solutions Ltd (DDDSL) has entered into an agreement to acquire 10 per cent stake in USA for around $ 28.5 million (over Rs 1.99 billion).

The company's wholly-owned subsidiary has entered into a stock purchase agreement to acquire 534,194 shares of common stock of firm USA, for a cash consideration of $ 534.20 per share, said in a filing to

The indicative time period for completion of the acquisition is three months, it added.

Shares of were trading at Rs 740.50 per scrip in the afternoon trade on the BSE, up 6.61 per cent from their previous close.

First Published: Thu, November 29 2018. 14:40 IST
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