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Drug-maker Jubilant Life Sciences has increased price of its nutrition product Niacin feed-grade by 18 per cent, the company said in a statement on Thursday.
The price increase, applicable for non-contract customers and wherever existing contracts permits, is triggered by rising cost of the raw materials and demand supply situation of Vitamin B3, the company said.
The company said, "Nutrition business of Jubilant Life Sciences, the manufacturer of vitamin B3 (Niacin & Niacinamide) is backward integrated up to the initial raw material stage with global scale of operations."
The company primarily manufactures and markets vitamin B3, which is formulated for human, pharmacological, cosmetics and animal feed consumption, as well as Choline Chloride (also referred to as vitamin B4), an important feed additive for poultry.
Vitamin B3 is also used extensively in human nutrition such as flour fortification, food enrichment, sports drinks, energy drinks, baby food and multi-vitamins. It is used in animal nutrition as feed additives for the poultry, dairy and pork industry, and in pharmaceuticals such as diabetes and cholesterol-related drugs.
On Thursday, shares of Jubilant Life Sciences closed at Rs 151.10 on the Bombay Stock Exchange, up 6.71 per cent from their previous close.
