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Jubilant Of India To Buy Draxis Of Canada For $255 Million

This article was originally published in PharmAsia News

Executive Summary

Jubilant Organosys of India says it is offering $255 million for Quebec firm Draxis Health as a way to enter the North American market for radiopharmaceuticals. The Draxis board of directors has recommended its shareholders accept the offer. Jubilant said the acquisition would merge two companies specializing in the contract-manufacturing business. In addition, Drasix offers its Draximage radiopharmaceutical division at a time the nuclear isotope business is considered increasingly competitive. (Click here for more

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