Jubilant Pharmova Subsidiary Completes Prepayment Loan Worth Rs 626 Cr
Jubilant Pharmova strengthens financial health with Rs 626 Cr loan prepayment by subsidiary JPHI. The company had a gross debt of Rs. 3,414 crore and a net debt of Rs. 2,457 crore on a consolidated basis. Learn more about the company’s finances here.
by Damodharan N
Updated Jun 27, 2024
Jubilant Pharmova Limited announced the successful completion of a voluntary prepayment of a USD 75 million term loan, equivalent to Rs. 626 crore. This significant financial move was carried out by its wholly owned subsidiary, Jubilant Pharma Holdings Inc. (JPHI), based in the USA.
This announcement follows the company's earlier communication on 14 June 2024, regarding the intention to prepay this term loan. As of 24 June 2024, JPHI has fully settled the loan, showcasing the company's robust financial health and commitment to reducing debt.
As reported on 31 March 2024, Jubilant Pharmova Limited had a Gross Debt of Rs. 3,414 crore and a Net Debt of Rs. 2,457 crore on a consolidated basis. This prepayment is a strategic step towards strengthening the company's financial position and enhancing its balance sheet.
The successful prepayment reflects Jubilant Pharmova's proactive approach to managing its financial obligations and its ongoing efforts to improve financial stability for sustained growth.
Read the full press release here
About Jubilant Pharma Limited
Jubilant Pharma Limited (JPL), incorporated under the laws of Singapore, is a wholly-owned subsidiary of Jubilant Pharmova Limited. It is a global integrated pharmaceutical company specializing in the manufacturing and supply of various pharmaceutical products.
JPL operates a network of 46 radiopharmacies in the US and is involved in the production of radiopharmaceuticals, allergy immunotherapy, and contract manufacturing of sterile injectables, non-sterile products, and solid dosage formulations.
JPL caters to regulated markets including the USA, Europe, and other regions through multiple manufacturing facilities. The company employs around 3,200 multicultural individuals worldwide, committed to delivering value to its customers across over 75 countries.
JPL is highly regarded as a 'Partner of Choice' by leading pharmaceutical companies globally, reflecting its dedication to quality and customer satisfaction
About Jubilant Pharmova Limited
Jubilant Pharmova Limited, formerly known as Jubilant Life Sciences Limited, is a diversified pharmaceutical company engaged in multiple areas including radiopharma, allergy immunotherapy, contract development and manufacturing (CDMO) of sterile injectables, generics, and proprietary novel drugs.
With a network of 46 radiopharmacies in the US, the company manufactures and supplies radiopharmaceutical products. It also operates in allergy immunotherapy, sterile and non-sterile product manufacturing, and solid dosage formulations for major regulated markets like the USA and Europe.
The company supports drug discovery through its CRDMO segment with two research centers in India, and produces Active Pharmaceutical Ingredients (APIs) at a US FDA-approved facility in Karnataka.
Additionally, Jubilant Therapeutics focuses on developing new therapies for cancer and autoimmune disorders. Jubilant Pharmova has a global team of about 5,500 people committed to delivering high-quality pharmaceutical solutions.
Jubilant Pharmova Subsidiary Completes Prepayment Loan Worth Rs 626 Cr - FAQs
1. What did Jubilant Pharmova recently announce?
Jubilant Pharmova announced the completion of a USD 75 million loan prepayment.
2. How much is the prepayment in Indian Rupees?
The prepayment in Indian Rupees Rs. 626 crore.
3. Which subsidiary made the prepayment?
Jubilant Pharma Holdings Inc. (JPHI), based in the USA.
4. When was the prepayment completed?
The prepayment completed on 24 June 2024.
5. What was Jubilant Pharmova's Gross Debt as of 31 March 2024?
Jubilant Pharmova's Gross Debt of Rs. 3,414 crore.
6. What was Jubilant Pharmova's Net Debt as of 31 March 2024?
ubilant Pharmova's Net Debt as of 31 March 2024 is Rs. 2,457 crore.
7. What is Jubilant Pharma Limited known for?
Jubilant Pharma Limited is Manufacturing and supply of radiopharmaceuticals, allergy immunotherapy, and contract manufacturing.
8. How many radiopharmacies does Jubilant Pharma operate in the US?
The radiopharmacies does Jubilant Pharma 46 radiopharmacies.
9. How many employees does Jubilant Pharma Limited have globally?
Jubilant Pharma Limited has around 3,200 employees globally.
10. What is Jubilant Pharmova's area of focus?
Jubilant Pharmova's area of focus is Radiopharma, allergy immunotherapy, CDMO, generics, and proprietary novel drugs.