Jubilant Life to split pharma business
The company plans to list the pharma vertical.
New Delhi, May 31, 2013: Jubilant Life Sciences is splitting its pharmaceutical business into two subsidiaries with drug development expected to become a separate entity. It is learned that the company is exploring options to list the pharma vertical.
The Board of Directors of the company have given a go-ahead to the plan to consolidate its pharmaceutical segment under two separate verticals.
As per the plan of the company, the pharma business will include active pharmaceuticals ingredients, solid dosage form, radio pharmaceuticals, allergic extracts, sterile injectable and ointment, cream and liquid businesses.
It is worth noting here that the second vertical will be the drug discovery business. The company also said that it has constituted a committee to "explore, identify and implement the options and opportunities of raising money by listing the pharma business for its growth and reduction of overall consolidated debt of the company".