The company informed the Bombay Stock Exchange that it had completed the transaction of acquiring Draxis, which marks its entry into radio-pharmaceutical market.
Jubilant is financing the 253-million-dollar transaction using a combination of proceeds from a previous FCCB issue and debt amounting to $160 million, it said.
"We are extremely pleased with the way the Draxis transaction has been completed. Draxis has a robust and exciting product pipeline, such as Sestamibi where the scope for value accretion will be very high," Jubilant Organosys Chairman and Managing Director Shyam S Bhartia said.
Draxis offer products in three categories -- steril products, non-sterile products and radio-pharmaceuticals. Draxis through its Draxiamge division develops and sells the radio-pharmaceuticals.
These products are used for both therapeutic and diagnostic molecular imaging applications.
