"The Board of Directors of Jubilant Pharma Ltd, a material wholly-owned subsidiary of the company in Singapore, has approved to negotiate a potential acquisition of a specialty pharma business in the United States using only internal accruals," Jubilant Life Sciences said in a BSE filing.
The potential acquisition will be subject to due diligence, satisfactory agreements, etc and final approval of Jubilant Life Sciences.
It further said: "The proposed acquisition is a niche, profitable speciality pharma business with a strategic fit and is expected to provide competitive edge for JPL's existing business, if it materialises".