"Jubilant Pharmova Subsidiary Acquires 80% Stake in French R&D Centre"

17 Aug, 2024

"Jubilant Pharmova Subsidiary Acquires 80% Stake in French R&D Centre"

Jubilant Pharmova Ltd announced that its subsidiary, Jubilant Biosys Ltd, through Jubilant Biosys Innovative Research Services Pte Ltd (JBIRSPL), will acquire an 80% stake in Pierre Fabre Laboratories’ Research & Development Centre in Saint Julien, France. The deal, valued at approximately €4.4 million over two years, will involve the creation of a new company in France that will manage the R&D site and its operations.

This strategic acquisition aims to strengthen Jubilant Biosys' expertise in biologics and antibody-drug conjugates (ADC), expanding its global presence in the pharmaceutical industry. The transaction is currently subject to the consultation of Pierre Fabre’s works council and the approval of the offer by Pierre Fabre.

Additionally, the completion of the acquisition is dependent on finalising definitive agreements and meeting customary closing conditions, ensuring all regulatory and operational requirements are fulfilled before the deal is officially closed.