Jubilant Pharmova Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

The said facility is operated by Jubilant Draximage Inc., a subsidiary of Jubilant Pharma (JPL), which is a wholly-owned subsidiary of Jubilant Pharmova. JPL is an ntegrated global pharmaceutical company engaged in manufacturing and supply of Radiopharmaceuticals with a network of 46 radio-pharmacies in the US; allergy immunotherapy, contract manufacturing of sterile injectables and non-sterile products and solid dosage formulations through five manufacturing facilities that cater to all the regulated market including USA, Europe and other geographies.

The USFDA has issued 5 observations pursuant to the completion of audit. The company will submit an action plan on the observations, Jubilant Pharmova said in a statement.

Jubilant Pharmova is engaged in radiopharma, allergy immunotherapy, CDMO of sterile injectable, generics, contract research development and manufacturing (CRDMO) and proprietary novel drugs businesses.

The pharmaco has reported a net profit of Rs 66 crore in Q3 FY24 as against a net loss of Rs 16 crore in Q3 FY23. Total income increased by 10% YoY to Rs 1,713 crore during the period under review.

The scrip rose 0.25% to currently trade at Rs 684.25 on the BSE.

Powered by Capital Market - Live News

Tata Communications Ltd, Ion Exchange (India) Ltd, CRISIL Ltd and Neuland Laboratories Ltd are among the other losers in the BSE's 'A' group today, 19 April 2024.

Jubilant Pharmova Ltd lost 4.94% to Rs 667 at 14:46 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 59277 shares were traded on the counter so far as against the average daily volumes of 33537 shares in the past one month.

Tata Communications Ltd crashed 4.80% to Rs 1764.25. The stock was the second biggest loser in 'A' group.On the BSE, 78553 shares were traded on the counter so far as against the average daily volumes of 19295 shares in the past one month.

Ion Exchange (India) Ltd tumbled 4.16% to Rs 535.6. The stock was the third biggest loser in 'A' group.On the BSE, 30513 shares were traded on the counter so far as against the average daily volumes of 37927 shares in the past one month.

CRISIL Ltd pared 4.06% to Rs 4348.05. The stock was the fourth biggest loser in 'A' group.On the BSE, 3970 shares were traded on the counter so far as against the average daily volumes of 2647 shares in the past one month.

Neuland Laboratories Ltd shed 3.96% to Rs 7352. The stock was the fifth biggest loser in 'A' group.On the BSE, 1783 shares were traded on the counter so far as against the average daily volumes of 2166 shares in the past one month.

Powered by Capital Market - Live News

Jubilant Generics (JGL) is subsidiary of Jubilant Pharma, which is wholly owned subsidiary of Jubilant Pharmova.

The United States Food and Drug Administration (USFDA) inspected JGL’s solid dosage manufacturing facility at Roorkee in India from 25 January to 2 February 2024.

Based on this inspection and the USFDA VAI classification, the facility is considered to be in acceptable state of compliance with regard to current good manufacturing practices (cGMP). With this, the FDA has concluded that this inspection is “closed”.

Meanwhile, the pharma company informed that its subsidiary, Jubilant Cadista Pharmaceuticals Inc., USA has decided to close the manufacturing operations of its solid dosage formulation facility at Salisbury, Maryland, USA. The expected date of cessation of manufacturing operation and first separations at the said facility will be on 17 June 2024.

However, Jubilant Cadista will continue the sales and marketing operations for US market. The said facility manufactures tablets and capsules for the US market and has the capacity to serve 1.5 billion doses.

Over the last few years the US Generics market has been witnessing significant pricing pressure leading to significant losses at Jubilant Cadista since FY2022 onwards. In order to move the US generics business to profitability, the company decided to change the operating model from in-house manufacturing to outsourced manufacturing by selected USFDA approved CMOs for the US market.

Further, the company expects the exports from the Roorkee facility to the US market to increase in a meaningful and gradual manner. As of now the facility, was exporting only one product, Risperidone to the US market.

These actions are expected to improve the gross margins of the generics business by reducing manufacturing, quality management and overhead costs, which will drive the generics business towards profitability. Lastly, the generics business has plans to scale up revenues in the US market through launch of new products.

Jubilant Cadista shall continue to explore various options to utilize or sell the said facility’s land, building and plant & machinery in the due course, stated the drug maker.

Jubilant Pharmova is engaged in radiopharma, allergy immunotherapy, CDMO of sterile injectable, generics, contract research development and manufacturing (CRDMO) and proprietary novel drugs businesses.

The pharmaco has reported a net profit of Rs 66 crore in Q3 FY24 as against a net loss of Rs 16 crore in Q3 FY23. Total income increased by 10% YoY to Rs 1,713 crore during the period under review.

Powered by Capital Market - Live News

Jubilant Pharmova announced that the company's subsidiary, Jubilant Cadista Pharmaceuticals Inc., USA has decided to close the manufacturing operations of its solid dosage formulation facility at Salisbury, Maryland, USA. The expected date of cessation of manufacturing operation and first separations at the said facility will be on 17 June 2024. Jubilant Cadista will continue the sales and marketing operations for US market. The said facility manufactures tablets and capsules for the US market and has the capacity to serve 1.5 billion doses.

Jubilant Cadista is a subsidiary of Jubilant Pharma Holdings Inc., USA, which is held by Jubilant Pharma, Singapore, a wholly owned subsidiary of the Company.

Over the last few years the US Generics market has been witnessing significant pricing pressure leading to significant losses at Jubilant Cadista since FY2022 onwards.

In order to move the US generics business to profitability, it has been decided to change the operating model from in-house manufacturing to outsourced manufacturing by selected USFDA approved CMOs for the US market.

Further, following the status change of Jubilant Generics Limited's (‘JGL') Roorkee facility by USFDA to VAI, the company expects the exports from the Roorkee facility to the US market to increase in a meaningful and gradual manner. As of now the facility, was exporting only one product, Risperidone to the US market. JGL is a subsidiary of Jubilant Pharma Ltd, a wholly owned subsidiary of the company.

These actions are expected to improve the gross margins of the Generics business by reducing manufacturing, quality management and overhead costs, which will drive the generics business towards profitability. Lastly, the Generics business has plans to scale up revenues in the US market through launch of new products.

Jubilant Cadista shall continue to explore various options to utilize or sell the said facility's Land, Building and Plant & Machinery in the due course.

Powered by Capital Market - Live News