Jubilant Pharmova has announced that its subsidiary, Jubilant Biosys Innovative Research Services Pte Limited (JBIRSPL), will acquire an 80% stake in a new French entity, Jasmin, as part of an agreement with Pierre Fabre SA. Jasmin, incorporated on September 11, 2024, will acquire Pierre Fabre’s Research and Development (R&D) center located in Saint-Julien-en-Genevois, France. This acquisition aims to expand Jubilant’s service offerings in Biologics and Antibody Drug Conjugates (ADCs), establishing a stronger R&D presence in Europe to cater to European and US markets.
The acquisition, which is subject to final regulatory approvals and customary conditions, is expected to be completed by December 2024, with a cash consideration of up to EUR 4.4 million for an 80% stake. The transaction includes the transfer of R&D site assets and approximately 40 employees from Pierre Fabre. This strategic move will solidify Jubilant’s position as a leading global CRO (Contract Research Organization) services partner.
Further updates will be shared as the acquisition process progresses.
