Jubilant Pharmova has entered into Share Purchase agreement, and Share Subscription and Shareholders agreement on April 1, 2022 for acquiring equity and preference shares of SPV Laboratories (Greencure). Greencure products have differentiated positioning, combining the best of Ayurveda and German herbal science.
The company has obtained multiple international certifications to strengthen their credibility. The market is being driven by a growing shift towards natural products, as well as rise in chronic diseases and growing health awareness. There is also a strong synergy between Jubilant and Greencure with respect to OTC portfolio which can be explored for R&D, online acceleration and offline distribution. Aggregate cost of acquisition is Rs 8.75 crore for acquiring 25.21% stake.
Jubilant Pharmova (formerly Jubilant Life Sciences) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses.
