News

Announcements

  • 27 October 2023

    Jubilant Pharmova – Q2’FY24 Results

    The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter ended Sep 30, 2023.

    The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter ended Sep 30, 2023.

    Financial Results Overview Q2’FY24 - Consolidated (Rs Crs)

    pr24

    1. Adjustments include non-recurring or one-off revenues related to Remdesivir, Covid related revenues in CDMO Sterile Injectables business and one-time discount to customers of Generics business in US market due to the pricing pressure and shelf stock adjustment in certain products

    2. Adjusted Profit Before Tax and Adjusted PAT is after adjusting for exceptional items and adjustments factored in EBITDA

    Financial Results Overview H2’FY24 - Consolidated (Rs Crs)

    pr24

    1. Adjustments include non-recurring or one-off revenues related to Remdesivir, Covid related revenues in CDMO Sterile Injectables business and one-time discount to customers of Generics business in US market due to the pricing pressure and shelf stock adjustment in certain products

    2. Adjusted Profit Before Tax and Adjusted PAT is after adjusting for exceptional items and adjustments factored in EBITDA

    Key Ratios – Consolidated

    pr24

    1. EBITDA is on TTM basis

    2. Exchange rate: 1USD = INR 83.05 as on Sep 30, 2023 and 1USD = INR 82.17 as on Mar 31, 2023

    Financial Highlights – Radiopharmaceuticals (Rs Crs)

    pr24

    Key Priorities – Radiopharmaceuticals

    • Maintain leadership position in stable high margin core portfolio in North America, e.g., lung functional imaging and thyroid targeted radiotherapeutics
    • Innovation leader in PET cardiac imaging through proprietary RUBY-FILL (best in class cardiac imaging product). Further accelerate Ruby-Fill installs in US and other global markets.
    • Timely execution of roadmap to enable CY 25 launch of MIBG
    • Targeting pediatric patients with high-risk Neuroblastoma. Incidence in the US is 800 (orphan drug) cases per year
    • Peak potential market size for MIBG is around USD 240 Mn
    • Continue launch of high-growth innovation products. Launched Technetium Mertiatide Injection in Q1’FY24. One more launch planned in FY24 subject to regulatory approvals

    Financial Highlights – Radiopharmacies (Rs Crs)

    pr24

    Key Priorities – Radiopharmacies

    • Accelerate sales of high growth new products, e.g., Ga-PSMA, and to further gain market share in existing SPECT products
    • Maintain current momentum of strong growth in 3rd party sales
    • Leverage existing cyclotrons to capture share of PET product growth
    • Additionally, explore opportunity to further expand presence into PET radiopharmacies, due to strong demand of PET products, such as PET-PSMA
    • Continue to enhance operational and procurement efficiencies leading to improvement in financial performance in FY24

    Financial Highlights – Allergy Immunotherapy (Rs Crs)

    pr24

    Key Priorities – Allergy Immunotherapy

    • #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in
    • Further strengthen the prescriber base for Venom immunotherapy in the US through continuous brand building. Sole supplier of venom in US
    • Focus on increasing market share in Non Venom Allergenic extracts (e.g., Dog, Cat, Mite allergy) and Skin Testing Devices in US. #2 player in US
    • Gain market share in Europe and other non-US markets across Venom product category

    Financial Highlights – CDMO Sterile Injectables (Rs Crs)

    pr24

    Adjusted Revenue and EBITDA excludes the one-off COVID related business

    Key Priorities – CDMO Sterile Injectables

    • Global Fill and Finish Sterile Injectable markets of USD 13Bn, with double digit growth rate projected over next 5 years
    • Focus is on-time and at-cost execution of USD 370Mn capacity expansion in Spokane and Montreal, to double the CMO capacity over next 5+ years in a phased manner
    • Cooperative agreement with US Govt. for USD 149.6 Mn and concessional loan from Canadian Govt. for ~USD 48 Mn
    • Leverage differentiated technical know-how to further build scale, e.g., Hormones, Ophthalmic, and Vaccines etc.
    • CMO Montreal facility received OAI from the US FDA in May 2023. Engaging with the US FDA to address its observations and resolve the OAI status at the facility

    Financial Highlights – Generics (Rs Crs)

    pr24

    Adjusted Revenue and EBITDA excludes the Remdesivir business and one-time discount to customers in US market due to pricing pressure and shelf stock adjustment in certain products

    Key Priorities – Generics

    • Continue quality improvement initiatives and engagement with the US FDA for resolution of Import Alert at the Roorkee facility.
    • Salisbury site is compliant with US FDA. Roorkee site is compliant with other key non- US markets, e.g., MHRA, Japan, South Africa, and Canada.
    • Focus on implementation of Rs 150 Cr cost optimization opportunities. Benefits have started getting reflecting in performance from Q1’FY24 onwards
    • Re-prioritise geography-mix to accelerate growth in branded markets such as India and select International markets
    • Continue to strengthen leadership position in select products across markets

    Financial Highlights – Drug Discovery Services (Rs Crs)

    pr24

    Key Priorities – Drug Discovery Services

    • Leverage state of the art infrastructure and differentiated technical know-how, e.g., Integrated Drug Discovery, DMPK to drive new customer acquisitions in drug discovery
    • Continue to invest in capabilities for improving productivity, speeding up time to market and lowering cost of innovation
    • Further strengthen the CDMO contract pipeline within existing and new technologies

    Financial Highlights – CDMO - API (Rs Crs)

    pr24

    Key Priorities – CDMO - API

    • In March 2023, the API plant at Nanjangud saw reversal of OAI status to compliant VAI status from USFDA, driven by Quality Improvement Initiatives at site.
    • Going forward, focus is to drive higher capacity utilization including through launch of new products and by acquiring new customers globally
    • Operations transformation program underway to increase productivity while lowering costs. Benefits will start becoming visible from H2’FY24
    • Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases
    • Wholly owned assets; opportunities to explore institutional funding, as well as maximize partnerships to get non-dilutive funding
    • Emphasis on cost optimized operating model with a focus on value creation
    • Business’ most advanced program - first in class dual inhibitor of LSD1/HDAC6 is undergoing Phase I/II clinical trials
    • Another program – PRMT5 Brain penetrant has received IND approval
    • LSD1/HDAC6 and PRMT5 have the potential to address high unmet medical needs globally with multi-billion-dollar market size

    Segment Financial Results - Consolidated (Rs Crs)

    pr24
  • 25 August 2023

    Dr. Shuchin Bajaj of Ujala Cygnus Healthcare wins the prestigious 14th Social Entrepreneur of the Year (SEOY) Award - India 2023 presented by Mr. Amitabh Kant, G-20 Sherpa, Government of India

    Noida, Uttar Pradesh, August 25, 2023: The Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum today conferred Dr. Shuchin Bajaj of Ujala Cygnus Healthcare with the prestigious 14th Social Entrepreneur of the Year Award - India 2023. The award was presented by Mr. Amitabh Kant, G-20 Sherpa, Government of India, at a grand ceremony in the presence of eminent personalities.

    Congratulating the winner and finalists and lauding the work of social entrepreneurs worldwide, Mr. Amitabh Kant, G-20 Sherpa, Government of India, said, I have great admiration for the Schwab Foundation for Social Entrepreneurship, World Economic Forum and the Jubilant Bhartia Foundation for consistently supporting social entrepreneurship and social innovation. We must recognise the transformative power of social economy. This platform of social entrepreneurship has been greatly instrumental in highlighting the innovative models that have the potential to shape a better India of tomorrow. Social entrepreneurs are the driving force behind positive change, crafting a narrative of progress and impact.  Their dedication has not only ignited hope but has translated into tangible transformations for individuals and communities across India.

    The SEOY Award - India 2023 winner, Dr. Shuchin Bajaj is bringing the revolution of super-speciality tertiary health care to the untouched and unserved communities at their convenience and cost. Through its chain of low-budget-and-patient-friendly-tertiary-care hospitals, it is enabling access to high-quality integrated healthcare infrastructure and services for underserved communities in tier 2&3 cities of India. Ujala Cygnus has benefitted over 2 million patients with over 500 doctors & medical experts in 17 cities and trained over 55,000 community medical practitioners.

    Ms. Hilde Schwab, Co-Founder and Chairperson, of the Schwab Foundation for Social Entrepreneurship, and Professor Klaus Schwab, Founder & Executive Chairman of the World Economic Forum and Co-Founder of the Schwab Foundation for Social Entrepreneurship applauded the work of the social entrepreneurs and congratulated the winner & finalists and shared, “Social entrepreneurs play a critical role as the driving force for innovation, applying creativity and commitment to develop ground-breaking solutions that tackle pressing systemic issues. The rich social innovation landscape in India provides globally relevant models for the sustainable development agenda. The Schwab Foundation for Social Entrepreneurship has been proud to partner with the Jubilant Bhartia Foundation in recognising the exceptional work of Indian social entrepreneurs over the past 14 years. This year’s winner and finalists of the Social Entrepreneur of the Year Award - India embody the spirit of social innovation and entrepreneurship, exemplifying their dedication to creating lasting societal impact.”

    Congratulating the winner and the finalists, Mr. Shyam S Bhartia, Chairman and Founder and Mr. Hari S Bhartia, Chairman & Co-Founder, of Jubilant Bhartia Group and Founder Directors of Jubilant Bhartia Foundation, shared, This year is extremely special for our relationship with the Schwab Foundation for Social Entrepreneurship as we complete 14 years of our partnership. We are proud of our unique and rewarding partnership through which we have been able to provide social entrepreneurs with a global platform to showcase their work, scale up their initiatives and cross-learn from a rich alliance of similar high-spirited individuals. Congratulations to the deserving winners and finalists of this year’s SEOY Award - India 2023. The showcase of their work will be an inspiration for many others.”

    Highlighting the importance and role of social entrepreneurs Mr. Bórge Brende, President, World Economic Forum said, “We need to create the right environment for social entrepreneurship and we have a long way to go. Social Entrepreneurship under India’s presidency of G-20 has further underpinned its importance.”

    “For 25 years, Prof Klaus and Hilde Schwab rightly predicted for Social entrepreneurship to be a significant sector in the world. And we witness this with the momentum of the United Nations resolutions that has just been passed for the social economy and the need for business to partner with social enterprises.” said François Bonnici, Director, Schwab Foundation for Social Entrepreneurship; Head of Foundations, World Economic Forum

    Dr. Shuchin Bajaj of Ujala Cygnus Healthcare on winning the SEOY Award - India 2023, shared, “My heartfelt gratitude to the Jubilant Bhartia Foundation, Schwab Foundation of Social Entrepreneurship and the World Economic Forum for this esteemed national recognition. This award carries profound significance, reaffirming our unwavering dedication to enhancing the quality of life in India. We must together make sure to bring down the number of 60 million people slipping below poverty line due to health expenditures.”

    The winner of the SEOY Award- India, Dr. Shuchin Bajaj of Ujala Cygnus Healthcare will join the world’s largest and the first inter-sectoral community of social innovators in the world affiliated with the Schwab Foundation for Social Entrepreneurship.

    Ms. Sheeren Bhan, the Managing Editor of CNBC TV 18 hosted the award ceremony.

    The other finalists for SEOY Award - India 2023 were Dr. Aparna Hegde from ARMMAN, Ms. Bijal Brahmbhatt from Mahila Housing Sewa Trust and Ms. Anuradha Parekh & Mr. Dhimant Parekh from The Better India. The winner and finalists of SEOY Award - India 2023 will also get an opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    This year the SEOY Award – India celebrates its 14th year. Over the last decade, it has established itself as one of the most respectable awards for social entrepreneurs in India. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India.

  • 21 August 2023

    Mr. Amitabh Kant, G-20 Sherpa, Government of India to present 14th ‘Social Entrepreneur of the Year’ Award India, 2023

    Mr. Amitabh Kant, G-20 Sherpa, Government of India to present 14th ‘Social Entrepreneur of the Year’ Award India, 2023

    The Jubilant Bhartia Foundation and the Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, are pleased to announce that Mr. Amitabh Kant, G-20 Sherpa, Government of India will be the Chief Guest at the 14th Social Entrepreneur of the Year Award India, 2023 on August 25, 2023. The award will be presented by Mr. Kant at a ceremony in New Delhi amongst distinguished global leaders and representatives from various sectors gathered to celebrate the spirit of social entrepreneurship. This year, the award ceremony is being held on the side-lines of B-20.

    The winner of this year’s Social Entrepreneur of the Year Award India, 2023 will be chosen by a distinguished jury comprised of industry stalwarts and eminent personalities from different backgrounds.

    The winner will be selected from amongst the four high-impact social innovators as finalists.

    These four social innovators have been selected after an extensive selection process based on parameters such as the organisation’s orientation towards addressing social inequalities, exclusion and marginalisation; uniqueness of the social model, ability to create sustainable systemic level changes and demonstrated social impact:

    1. Dr. Aparna Hegde from ARMMAN, Mumbai - ARMMAN leverages mHealth to create cost-effective, scalable, gender-sensitive, non-linear, systemic solutions to improve access of pregnant women and mothers to preventive information and services along with training health workers to reduce maternal and child mortality/morbidity.

    2. Ms. Bijal Brahmbhatt from Mahila Housing Sewa Trust, Ahmedabad – Aimed at improving the habitat of poor women from the informal sector in cities, MHT invests in women’s collectives and leadership that advances a constructive dialogue and responsible urban development.

    3. Mr. Dhimant Parekh & Ms Anuradha Parekh from The Better India, Bengaluru - The Better India (TBI) ushered a whole new positive movement in the country - by using the power of stories to effect large-scale social impact.

    4. Dr. Shuchin Bajaj from Ujala Cygnus Healthcare, New Delhi - Ujala Cygnus through its chain of low-budget-and-patient-friendly-tertiary-care hospitals is enabling access to high-quality integrated healthcare infrastructure and services for underserved communities.

    For more details on the finalists, please click here.

    The winner of the SEOY Award India 2023 will join the social innovators’ community of the Schwab Foundation for Social Entrepreneurship, a leading global platform that has accelerated outstanding models of social innovation for over 25 years. The Winner and Finalists of SEOY Award India 2023 will also have the opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    Now celebrating its 14th year, the SEOY Award India has established itself as one of the most reputed and coveted awards for social entrepreneurs in India.

    In 2009, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award India 2023 and has since recognised and supported the growing field of social innovation in India. Over the last decade, it has established itself as one of the most reputable awards for social entrepreneurs.

    Note to the Editors:

    The Schwab Foundation for Social Entrepreneurship, founded in 1998, is a not-for-profit organization which provides a global platform that advances the world’s leading models of sustainable social innovation. In collaboration with the World Economic Forum, for more than 20 years, the Schwab Foundation has selected and curated a community of over 400 late-stage social innovators who work in 190 countries and highlighted leading social innovation models to top decision-makers in business and government.

    Learn more at www.schwabfound.org
    Follow The Schwab Foundation on:

    Twitter: @SchwabFound
    Facebook: www.facebook.com/schwabfound/
    Instagram: www.instagram.com/schwabfoundation/
    LinkedIn: www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship/

  • 08 August 2023

    Four Top Social Innovators make it to the final round of India's Most Prestigious Social Entrepreneur of the Year (SEOY) India Award 2023

    Schwab Foundation for Social Entrepreneurship in partnership with the Jubilant Bhartia Foundation, today announced the finalists for the most awaited 14th edition of the ‘Social Entrepreneur of the Year’ India Award 2023.

    Schwab Foundation for Social Entrepreneurship in partnership with the Jubilant Bhartia Foundation, today announced the finalists for the most awaited 14th edition of the ‘Social Entrepreneur of the Year’ India Award 2023. The prestigious award recognises and celebrates the outstanding contributions of social innovators in India who have transformed lives and communities through their exceptional socio-business initiatives.

    The extensive selection process is based on various parameters such as the organization’s orientation towards addressing social inequalities, exclusion and marginalization; uniqueness of the social model or initiative, and ability to create sustainable systemic level changes. The Schwab Foundation and Jubilant Bhartia Foundation teams also conducted background research, personal and team interactions, impact assessment, expert reviews and reference checks to select the following four high-impact social innovators as finalists:

    1. Dr. Aparna Hegde, ARMMAN, Mumbai
    www.armman.org

    2. Ms. Bijal Brahmbhatt, Mahila Housing Sewa Trust, Ahmedabad
    www.mahilahousingtrust.org

    3. Mr. Dhimant Parekh & Ms. Anuradha Parekh, The Better India, Bengaluru
    www.thebetterindia.com

    4. Dr. Shuchin Bajaj, Ujala Cygnus Healthcare, New Delhi
    www.ujalacygnus.com

    The winner of the Social Entrepreneur of the Year India Award will be chosen by a distinguished jury comprised of industry stalwarts and eminent personalities from different backgrounds. The award will be announced on August 25, 2023 in a grand ceremony in New Delhi amongst distinguished global leaders and representatives from various sectors gathered to celebrate the spirit of social entrepreneurship. This year, the award ceremony will be on the side-lines of B20 - Business 20 of G20 in India.

    The SEOY India Award 2023 received 110 diverse applications this year, with around 60% of them being first-time applicants, reflecting the reach of the platform to newer organisations. The top five sectors in applications consisted of Education, Health, Rural Development, Environment (waste management), Water and Enterprise Development.

    Through their humanitarian approaches, the shortlisted finalists, have exhibited unparalleled commitment towards addressing some of India's most pressing social challenges. Their contributions range from:

    a) providing support to maternal and neonatal cases in remote regions by leveraging technology to connect and resolve primary health complications of pregnant women and new-born babies

    b) bringing constructive advancements for women of urban-built landscapes in poor communities by improving their housing, living, and working environments

    c) bringing innovative solutions of affordable and accessible healthcare services in poor housing localities

    d) bringing the stories of positivity and change from the unseen India to the mainstream for amplification as well as bringing societal optimism and inspiration lead impact

    As part of the award, the winner of the SEOY India Award 2023 will join the social innovators community of the Schwab Foundation for Social Entrepreneurship, a leading global platform that has accelerated outstanding models of social innovation for over 25 years. The Winner and Finalists of SEOY India Award 2023 will also have the opportunity to apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

    In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) India Award 2023 and has since recognised and supported the growing field of social innovation in India. Over the last decade, it has established itself as one of the most reputable awards for social entrepreneurs.

    Meet the finalists:

    Dr. Aparna Hegde
    ARMMAN

    www.armman.org
    Year Established: 2008
    Sector: Health

    About: With the vision of a world where every mother is empowered and every child is healthy, ARMMAN leverages mHealth to create cost-effective, scalable, gender-sensitive, non-linear, systemic solutions to improve access of pregnant women and mothers to preventive information and services along with training health workers to reduce maternal and child mortality/morbidity. It adopts a blended ‘tech plus touch’ approach by leveraging the health worker network of the government and partner NGOs along with deep mobile penetration. ARMMAN leverages deep mobile penetration with existing health worker network and infrastructure to, provide preventive care information to women through pregnancy and infancy enabling them to seek care in time and train and support health workers for timely detection and management of high-risk conditions. ARMMAN is currently implementing the largest mobile-based maternal messaging programme (Kilkari) and the largest mobile-based training programme for frontline health workers (Mobile Academy) in India. Since its inception in 2008, its programmes have impacted the lives of almost 40 million pregnant women, new mothers and their families and trained over 3.24 lakh health workers in 20 states and Union Territories of India.

    Bijal Brahmbhatt
    Mahila Housing Trust (MHT)

    www.mahilahousingtrust.org
    Year Established: 1994
    Sector: Women-led development, Inclusive and Climate Resilient Urban Development

    About: With a vision of improving the habitat of poor women from informal sector in cities, MHT invests in women’s collectives and leadership that advances a constructive dialogue and responsible urban development. It acts as an anchor organisation to Awaas SEWA Pvt. Ltd. and Credit Cooperatives, both owned by poor women. MHT mobilises women for good governance and empowers them thereby to take charge of their habitat improvement. By forging a unique relationship between poor communities and local governments, it advances access to basic services, promotes climate resilience, and deepens participatory and inclusive governance. Over the last two decades, MHT through its presence in 9 states, has helped poor women in accessing over US$ 20 million worth of public resources. It is serving 1126 slum settlements, reached 4,50,857 households and created around 16,000 Community Action Group women leaders. With its efforts, 53,500 households get potable water; 59,870 got access to toilets; and 1,81, 708 access grid electricity. It has trained 13,732 women as climate sathis.

    Dhimant Parekh and Anuradha Parekh
    The Better India,

    www.thebetterindia.com
    Year Established: 2008
    Sector: Media

    About: The Better India (TBI) ushered a whole new positive movement in the country - by using the power of stories to effect large-scale social impact. It is the world’s largest positive stories platform publishing in English, Hindi, Gujarati, Bangla & Marathi. It unearths stories of ordinary unsung heroes, community change-makers, remarkable ideas and ground-breaking innovations that often go unnoticed by traditional media. The platform inspires millions of Indians on a daily basis to be a part of a movement of change and is working towards making every citizen a force of good. It has also undertaken several impactful campaigns that have brought long-lasting change in the country. TBI's stories have led to positive changes in government policies, brought water & sanitation in villages, helped farmers come out of poverty, raised funds for slum schools, taken social enterprises global and much more.

    93% of TBI’s readers have found inspiration in their stories, fuelling their drive to actively contribute towards positive social change. The Better India reaches out to over 200 million people every month across all its channels.

    Dr Shuchin Bajaj
    Ujala Cygnus Healthcare,

    www.ujalacygnus.com
    Year Established: 2011
    Sector: Healthcare

    About: With a mission of ‘Building trust by saving and caring for lives with dignity, affordability and quality, Ujala Cygnus through its chain of low-budget-and-patient-friendly-tertiary-care hospitals is enabling access to high-quality integrated healthcare infrastructure and services for underserved communities in tier 2&3 cities of India. It is bringing the revolution of super-speciality tertiary health care to the untouched and unserved communities at their convenience and cost. Ujala Cygnus is also mobilising the community on various facets of health awareness through health/medical camps for rural outreach and has launched several initiatives for community education and empowerment like the unique Sehat Chaupals among others. It also conducts interactive academic sessions called Continuous Medical Education (CME) programs for community medical practitioners by expert doctors. Over 5000 CMEs have trained over 55,000 community medical practitioners so far. With a network of 20 hospitals across 15 cities in tier 2&3 cities of Haryana, Uttar Pradesh, Jammu & Kashmir and Delhi, and with the support of over 300 doctors and medical experts, the Ujala Cygnus hospitals have catered to over 2 million patients since inception.

    About Us:

    The Schwab Foundation for Social Entrepreneurship, founded in 1998, is a not-for-profit organization which provides a global platform that advances the world’s leading models of sustainable social innovation. In collaboration with the World Economic Forum, for more than 20 years, the Schwab Foundation has selected and curated a community of over 400 late-stage social innovators who work in 190 countries and highlighted leading social innovation models to top decision-makers in business and government.

    Learn more at www.schwabfound.org
    Follow The Schwab Foundation on:
    Twitter: @SchwabFound
    Facebook: https://www.facebook.com/schwabfound/
    Instagram: https://www.instagram.com/schwabfoundation/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship/

  • 19 July 2023

    Jubilant Pharmova – Q1’FY24 Results

    The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter ended June 30, 2023.

    The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter ended June 30, 2023.

    Financial Results Overview Q1’FY24 - Consolidated (Rs Crs)

    pr24

    1. Adjustments include non-recurring / one-off revenues related to Remdesivir sales and Covid related revenues in CDMO Sterile Injectables business

    2. Impairment of Intangible Assets figure is included under the ‘Depreciation and Amortisation’ head in P&L. In Q4’FY23, the Company booked an impairment charge of Rs 171 Crs related to certain intangible assets.

    3. Adjusted Profit Before Tax / PAT is after adjusting for impairment of intangible assets charge and adjustments factored in EBITDA

    Financial Highlights – Radiopharmaceuticals (Rs Crs)

    pr24

    Key Priorities – Radiopharmaceuticals

    • Maintain leadership position in stable high margin core portfolio in North America, e.g., lung functional imaging and thyroid targeted radiotherapeutics
    • Innovation leader in PET cardiac imaging through proprietary RUBY-FILL (best in class cardiac imaging product). Further accelerate Ruby-Fill installs in US and other global markets.
    • Timely execution of roadmap to enable FY-25 launch of MIBG
      • Targeting pediatric patients with high-risk Neuroblastoma. Incidence in the US is 800 (orphan drug) cases per year
      • Peak potential market size for MIBG is around USD 240 Mn
    • Continue launch of high-growth innovation products. Launched Technetium Mertiatide Injection in Q1’FY24. One more launch planned in FY24 subject to regulatory approvals

    Financial Highlights – Radiopharmacies (Rs Crs)

    pr24

    Key Priorities – Radiopharmacies

    • Accelerate sales of high growth new products, e.g., Ga-PSMA, and to further gain market share in existing SPECT products
    • Maintain current momentum of strong growth in merchant sales
    • Leverage existing cyclotrons to capture share of PET product growth
    • Additionally, explore opportunity to further expand presence into PET radiopharmacies, due to strong demand of PET products, such as PET-PSMA
    • Continue to enhance operational and procurement efficiencies leading to improvement in financial performance in FY24

    Financial Highlights – Allergy Immunotherapy (Rs Crs)

    pr24

    Key Priorities – Allergy Immunotherapy

    • #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in
    • Further strengthen the prescriber base for Venom immunotherapy in the US through continuous brand building. Sole supplier of venom in US
    • Focus on increasing market share in Non Venom Allergenic extracts (e.g., Dog, Cat, Mite allergy) and Skin Testing Devices in US. #2 player in US
    • Gain market share in Europe and other non-US markets across Venom product category

    Financial Highlights – CDMO Sterile Injectables (Rs Crs)

    pr24

    • Global Fill and Finish Sterile Injectable markets of USD 13Bn, with double digit growth rate projected over next 5 years
    • Focus is on-time and at-cost execution of USD 370Mn capacity expansion in Spokane and Montreal, to double the CMO capacity over next 5+ years in a phased manner
    • Cooperative agreement with US Govt. for USD 149.6 Mn and concessional loan from Canadian Govt. for ~USD 48 Mn
    • Leverage differentiated technical know-how to further build scale, e.g., Hormones, Ophthalmic, Vaccines etc.
    • CMO Montreal facility received OAI from the US FDA in May 2023. Engaging with the US FDA to address its observations and resolve the OAI status at the facility

    Financial Highlights – Generics (Rs Crs)

    pr24

    Key Priorities – Generics

    • Continue quality improvement initiatives and engagement with the US FDA for resolution of Import Alert at the Roorkee facility.
    • Salisbury site is compliant with US FDA. Roorkee site is compliant with other key non-US markets, e.g., MHRA, Japan, South Africa, Canada.
    • Focus on implementation of Rs 150 Cr cost optimization opportunities. Benefits have started getting reflecting in performance from Q1’FY24 onwards
    • Re-prioritise geography-mix to accelerate growth in branded markets such as India and select International markets
    • Continue to strengthen leadership position in select products across markets

    Financial Highlights – Drug Discovery Services (Rs Crs)

    pr24

    Key Priorities – Drug Discovery Services

    • Leverage state of the art infrastructure and differentiated technical know-how, e.g., Integrated Drug Discovery, DMPK to drive new customer acquisitions in drug discovery
    • Continue to invest in capabilities for improving productivity, speeding up time to market and lowering cost of innovation
    • Further strengthen the CDMO contract pipeline within existing and new technologies

    Financial Highlights – CDMO - API (Rs Crs)

    pr24

    Key Priorities – CDMO - API

    • In March 2023, the API plant at Nanjangud saw reversal of OAI status to compliant VAI status from USFDA, driven by Quality Improvement Initiatives at site.
    • Going forward, focus is to drive higher capacity utilization including through launch of new products and by acquiring new customers globally
    • Operations transformation program underway to increase productivity while lowering costs. Benefits will start becoming visible from H2’FY24.

    Key Priorities – Proprietary Novel Drugs

    • Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases
    • Wholly owned assets; opportunities to explore institutional funding, as well as maximize partnerships to get non-dilutive funding
    • Emphasis on cost optimized operating model with a focus on value creation
    • Business’ most advanced program - first in class dual inhibitor of LSD1/HDAC6 is undergoing Phase I/II clinical trials
    • Another program – PRMT5 Brain penetrant has received IND approval
    • LSD1/HDAC6 and PRMT5 have the potential to address high unmet medical needs globally with multi-billion-dollar market size

    Segment Financial Results - Consolidated (Rs Crs)

    pr24

  • 15 June 2023

    Jubilant Therapeutics Inc. Appoints Nadir Patel as an Independent Member of Its Board of Directors

    Jubilant Therapeutics Inc., a clinical stage biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology and autoimmune diseases,

    Jubilant Therapeutics Inc., a clinical stage biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology and autoimmune diseases, today announced the appointment of Nadir Patel as an independent director on the Company’s Board of Directors.

    “Nadir Patel has had a distinguished career advising corporate executives in private industry and representing Canada in foreign affairs,” said Hari S Bhartia, Chairman, Jubilant Therapeutics Inc. “His broad experience in strategic planning, finance, human resources and other disciplines will be invaluable as Jubilant Therapeutics Inc. continues to develop as a company and advances its differentiated drug pipeline in preclinical and clinical development.”

    Nadir Patel is a senior strategic advisor at global law firm Norton Rose Fulbright Canada LLP, managing director at Fairfax Consulting Services and strategic advisor to the President of Huron University at Western. Prior to his current roles, Nadir held several senior government positions over a notable career in Canada’s public service. Most recently, he served as Canada’s High Commissioner for the Republic of India, with concurrent accreditation as Canada’s Ambassador to Nepal and Ambassador to the Kingdom of Bhutan until 2021. He also previously served as Assistant Deputy Minister and Chief Financial Officer for Canada’s Department of Foreign Affairs, Trade and Development and as Canada’s Consul General in Shanghai. He currently serves on the board of directors of Canadian Tire Corporation where he also chairs the audit committee, as well as board Chairman at Canadian Tire Jumpstart Charities. Nadir Patel holds a joint MBA from New York University’s Stern School of Business, London School of Economics and Political Science, and HEC (Paris) School of Management.

  • 29 May 2023

    Jubilant Pharmova – Q4 & FY23 Results

    The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter & year ended March 31, 2023

    The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter & year ended March 31, 2023.

    Financial Results Overview Q4’FY23 - Consolidated (Rs Crs)

    pr23

    • Impairment: In Q4’FY23, the Company booked an impairment charge of Rs 171 Crs related to certain intangible assets.
    • Impairment of Intangible Assets figure is included under the ‘Depreciation and Amortisation’ head in P&L
    • Normalised Profit Before Tax / PAT is after adjusting for impairment of intangible assets charge

    Financial Results Overview FY23 - Consolidated (Rs Crs)

    pr23

    Q4 & FY23 – Adjusted Financials (Rs Crs)

    pr23

    • Adjustments include non-recurring / one-off revenues related to Remdesivir sales, one-time customer settlement in Generics business and Covid related revenues in CDMO Sterile Injectables business

    Key Ratios FY23 – Consolidated (Rs Crs)

    pr23

    Financial Highlights – Radiopharmaceuticals (Rs Crs)

    pr23

    Key Priorities – Radiopharmaceuticals

    • Maintain leadership position in stable high margin core portfolio in North America, e.g., lung functional imaging and thyroid targeted radiotherapeutics
    • Innovation leader in PET cardiac imaging through proprietary RUBY-FILL (best in class cardiac imaging product). Further accelerate Ruby-Fill installs in US and other global markets.
    • Timely execution of roadmap to enable FY-25 launch of MIBG
      • Targeting pediatric patients with high-risk Neuroblastoma. Incidence in the US is 800 (orphan drug) cases per year
      • Peak potential market size for MIBG is around USD 240 Mn
    • Continue launch of high-growth innovation products, e.g., MAG-3 Mertiatide

    Financial Highlights – Radiopharmacies (Rs Crs)

    pr23

    Key Priorities – Radiopharmacies

    • Accelerate sales of high growth new products, e.g., Ga-PSMA, and to further gain market share in existing SPECT products
    • Maintain current momentum of strong growth in merchant sales
    • Leverage existing cyclotrons to capture share of PET product growth
    • Additionally, explore opportunity to further expand presence into PET radiopharmacies, due to strong demand of PET products, such as PET-PSMA
    • Continue to enhance operational and procurement efficiencies leading to improvement in financial performance in FY24

    Financial Highlights – Allergy Immunotherapy (Rs Crs)

    pr23

    Key Priorities – Allergy Immunotherapy

    • #2 player in US Sub-Cutaneous Immunotherapy market (Venom and Non-Venom) of >$200M. High barriers to entry as products are branded biologicals with regulatory approvals grandfathered in
    • Further strengthen the prescriber base for Venom immunotherapy in the US through continuous brand building. Sole supplier of venom in US
    • Focus on increasing market share in Non Venom Allergenic extracts (e.g., Dog, Cat, Mite allergy) and Skin Testing Devices in US. #2 player in US
    • Gain market share in Europe and other non-US markets across Venom product category

    Financial Highlights – CDMO Sterile Injectables (Rs Crs)

    pr23

    Key Priorities – CDMO Sterile Injectables

    • Global Fill and Finish Sterile Injectable markets of USD 13Bn, with double digit growth rate projected over next 5 years
    • Focus is on-time and at-cost execution of USD 370Mn capacity expansion in Spokane and Montreal, to double the CMO capacity over next 5+ years in a phased manner
    • Cooperative agreement with US Govt. for USD 149.6 Mn and concessional loan from Canadian Govt. for ~USD 48 Mn
    • Leverage differentiated technical know-how to further build scale, e.g., Hormones, Ophthalmic, Vaccines etc.

    Financial Highlights – Generics (Rs Crs)

    pr23

    Key Priorities – Generics

    • Continue quality improvement initiatives and engagement with the US FDA for resolution of Import Alert at the Roorkee facility.
    • Salisbury site is compliant with US FDA. Roorkee site is compliant with other key non-US markets, e.g., MHRA, Japan, South Africa, Canada.
    • Focus on implementation of Rs 150 Cr cost optimization opportunities. Benefits will start reflecting in performance from Q1’FY24 onwards
    • Re-prioritise geography-mix to accelerate growth in branded markets such as India and select International markets
    • Continue to strengthen leadership position in select products across markets

    Financial Highlights – Drug Discovery Services (Rs Crs)

    pr23

    Key Priorities – Drug Discovery Services

    • Leverage state of the art infrastructure and differentiated technical know-how, e.g., Integrated Drug Discovery, DMPK to drive new customer acquisitions in drug discovery.
    • Continue to invest in capabilities for improving productivity, speeding up time to market and lowering cost of innovation.
    • Further strengthen the CDMO contract pipeline within existing and new technologies.
    • Ensure timely and at-cost completion of the upcoming new block at the Greater Noida facility to cater to increasing customer demand

    Financial Highlights – CDMO - API (Rs Crs)

    pr23

    Key Priorities – CDMO - API

    • In March 2023, the API plant at Nanjangud saw reversal of OAI status to compliant VAI status from USFDA, driven by Quality Improvement Initiatives at site.
    • Going forward, focus is to drive higher capacity utilization including through launch of new products and by acquiring new customers globally
    • Operations transformation program underway to increase productivity while lowering costs. Benefits will start becoming visible from H2’FY24.

    Key Priorities – Proprietary Novel Drugs

    • Clinical stage precision therapeutics business advancing potent and selective small molecules to address unmet medical needs in oncology and autoimmune diseases
    • Wholly owned assets; opportunities to explore institutional funding, as well as maximize partnerships to get non-dilutive funding
    • Emphasis on cost optimized operating model with a focus on value creation
    • Business’ most advanced program - first in class dual inhibitor of LSD1/HDAC6 in undergoing Phase I/II clinical trials
    • Another program – PRMT5 Brain penetrant has received IND approval
    • IND approval for another two programs are expected in FY24

    Segment Financial Results - Consolidated (Rs Crs)

    pr23

  • 13 April 2023

    Jubilant Therapeutics Inc.’s Selective, Orally Administered PAD4 Inhibitor Demonstrates Activity in Rheumatoid Arthritis Preclinical Models

    Jubilant Therapeutics Inc.’s Selective, Orally Administered PAD4 Inhibitor Demonstrates Activity in Rheumatoid Arthritis Preclinical Models

    Jubilant Therapeutics Inc.’s Selective, Orally Administered PAD4 Inhibitor Demonstrates Activity in Rheumatoid Arthritis Preclinical Models

    Research conducted in collaboration with Boston Children’s Hospital and published in the peer-reviewed journal - Scientific Reports

    Bedminster, New Jersey, United States:  April 13, 2023 – Jubilant Therapeutics Inc., a clinical stage biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology and autoimmune diseases, today announced publication of novel research demonstrating that a highly selective, non-competitive and orally administered inhibitor of Protein Arginine Deiminase 4 (PAD4), showed remarkable efficacy in two animal models of Rheumatoid Arthritis (RA). Correlative in vitro studies confirmed that PAD4 inhibition acts by inhibiting NETosis, a fundamental pathophysiological mechanism in the establishment of many autoimmune diseases. The research was conducted in collaboration with Prof. Denisa Wagner a pioneer in PAD4 target space, at the Boston Children’s Hospital.

    The research was published in Scientific Reports (https://doi.org/10.1038/s41598-023-30246-2).

    “We are evaluating several selective, oral PAD4 inhibitors that have emerged from our TIBEO discovery engine for the treatment of both autoimmune diseases and cancer,” said Luca Rastelli, Ph.D., Chief Scientific Officer, Jubilant Therapeutics Inc. “Previous research on PAD4 activity and the resulting citrullinated proteins has implicated this target in the genesis of autoimmune diseases, therefore making the development of selective, orally available PAD4 inhibitors a valuable option for patients. The results presented in this paper showed substantial improvement in symptoms, molecular biomarkers and in the bone and tendons damage that result from RA. They also confirmed the underlying mechanism of action building on earlier research on PAD4 inhibition. We are now planning to select a lead PAD4 inhibitor candidate and will be progressing it for IND enabling studies.”

    PAD4 is an enzyme that catalyzes citrullination of proteins and the release of neutrophil extracellular traps (NETs). Its role in autoimmune diseases has been established through clinical genetics and gene knock out studies in mice. This study evaluated an oral, highly selective PAD4 inhibitor, both in vitro and in two RA animal models. In human and mouse neutrophils, PAD4 inhibitor inhibited NET formation, in vitro. In two RA mouse models, JBI-589 reduced several measures of RA and inflammation including joint erosion, RA clinical score and inflammatory markers.

    About Jubilant Therapeutics Inc.

    Jubilant Therapeutics Inc. is a clinical stage biopharmaceutical company developing precision oral medicines with enhanced therapeutic index to address unmet medical needs in oncology and autoimmune diseases for genetically defined patients. Its advanced structure based discovery engine, TIBEO (Therapeutic Index and Brain Exposure Optimization), has been validated through successful partnerships including with Blueprint Medicines for a brain penetrant EGFR Exon-20 program. The Company’s pipeline consists of a first in class dual coREST modifier, JBI-802, currently in a Phase I/II clinical trial in multiple tumors, a novel brain-penetrant modulator of PRMT5 for which an IND has been accepted, brain penetrant and gut restrictive PDL1 inhibitors, as well as PAD4 inhibitors for oncology and inflammatory indications. The Company is headquartered in Bedminster, New Jersey and guided by globally renowned scientific advisors.

    For more please visit: www.jubilanttx.com
    Twitter @JubilantTx, LinkedIn

    Media Contact

    Katie Mathioudakis / Robert Flamm, Ph.D.
    klarch@burnsmc.com / rflamm@burnsmc.com

    IR Contact

    Monique Kosse
    Monique@lifesciadvisors.com

  • 10 April 2023

    Call for India’s Social Change Leaders: Applications invited for the Prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2023’

    Call for India’s Social Change Leaders: Applications invited for the Prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2023’ Noida, Uttar Pradesh, April 10, 2023

    Call for India’s Social Change Leaders: Applications invited for the Prestigious ‘Social Entrepreneur of the Year (SEOY) - India Award 2023’ Noida, Uttar Pradesh, April 10, 2023: Jubilant Bhartia Foundation and Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, invite applications for the 14th edition of the annual competition - Social Entrepreneur of the Year (SEOY) India Award 2023. The application entry for the award will be accepted till April 30, 2023. Interested candidates may submit the application form available at www.jubilantbhartiafoundation.com or can email the filled form to jbf.seoy@jubl.com

    The winner of the Social Entrepreneur of the Year (SEOY) India Award 2023 will be announced in the last week of August, 2023 by an eminent personality in a magnificent ceremony at New Delhi.

    The winner of the SEOY Award - India will join the world’s largest and the first inter-sectoral community of social innovators in the world affiliated with the Schwab Foundation for Social Entrepreneurship to engage, build and sustain their social enterprises.  

    The participating individuals and organisations are evaluated on the key parameters of Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope, Replicability. The finalists will be selected following an intensive search and selection process, including expert reviews, interviews and site visits. The winner is selected by a prominent jury consisting of eminent leaders and professionals from the Government, Business, Media, and Civil Society.

    The Social Entrepreneur of the Year (SEOY) India Award aims to promote and celebrate leading social entrepreneurs and their unique ventures in India that help in addressing the various gaps in our society and country. Through providing recognition, the SEOY India Award hopes to inspire many other potential social entrepreneurs in India every year.

    In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and they have since recognised and supported the growing field of social innovation in India. This year the SEOY Award – India celebrates its 14th year. Over the last decade it has established itself as one of the most respectable awards for social entrepreneurs in India.

    The award recognises individuals and organisations who implement innovative, sustainable and scalable solutions to address pressing issues faced by under-served communities to make inclusive growth a reality in India. They work in diverse areas such as health, education, employment, water, clean energy, building identity & entitlements, financial literacy, access to information and technology among others.

    Key Highlights

    Who can participate: Accomplished social change leaders across diversity of large-scale, system change and social innovation models in society

    How to participate: Submit application form available at www.jubilantbhartiafoundation.com or email filled form to jbf.seoy@jubl.com.

    Last Date: April 30, 2023

    Evaluation parameters: Market-based, Technology-enabled, Sustainability, Direct Social Impact, Reach & Scope, Replicability.

    Benefits:

    • Access to the world’s most influential network
    • Showcase awardees’ solutions to the highest level of decision-makers
    • Build leadership capacity of awardees by strengthening their organisational and business strategies through executive education programmes at top universities, practitioner-oriented research and curated programming at global and regional meetings
    • Create spaces for reflection and peer-to-peer mentoring

    Past winners:

    Aniket Doegar from Haqdarshak Empowerment Solutions won the Social Entrepreneur of the Year (SEOY) Award - India 2022, presented by Shri. Anurag Singh Thakur, Hon. Union Minister for Information & Broadcasting and Minister for Youth Affairs & Sports, Government of India. Haqdarshak Empowerment Solutions is solving the information and access gap between citizens and the government’s welfare schemes at the last mile, through its tech-enabled intervention. Present in 24 states in India it has trained over 22,800 agents and provided benefits worth Rs 4,000 crore for over 20 lakh families and 35,000 micro businesses.

    Year SEOY India Winner & Winning Organisation
    2021 Pranshu Singhal, Karo Sambhav
    2020 Ashraf Patel, Pravah & ComMutiny Youth Collective
    2019 Shanti Raghavan & Dipesh Sutariya, EnAble India
    2018 Prema Gopalan, Swayam Shikshan Prayog
    2017 Urvashi Sahni, Study Hall Educational Foundation (SHEF)
    2016 Neichute Doulo, Entrepreneurs Associates
    2015 Poonam Bir Kasturi, >Daily Dump
    2014 H Sudarshan, Karuna Trust
    2013 Chetna Vijay Sinha, Mann Deshi Group of ventures
    2012 Anshu Gupta, Goonj
    2011 Neelam Chhiber, Industree
    2010 Rajiv Khandelwal & Krishnavtar Sharma, Aajeevika Bureau

    About

    Schwab Foundation for Social Entrepreneurship was co-founded by Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, and his wife Hilde. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation.

    For more info please visit: www.schwabfound.org

    Follow the Schwab Foundation for Social Entrepreneurship on:

    Twitter: https://twitter.com/schwabfound

    Facebook: https://www.facebook.com/schwabfound/

  • 08 March 2023

    USFDA Communication - March 8, 2023

    Jubilant Pharmova announces USFDA communication assigning inspection classification of ‘Voluntary Action Indicated’ for its API Manufacturing Facility

    Jubilant Pharmova announces USFDA communication assigning inspection classification of ‘Voluntary Action Indicated’ for its API Manufacturing Facility

    Jubilant Pharmova Limited today announced that, pursuant to the United States Food and Drug Administration (USFDA) inspection of its API manufacturing facility at Nanjangud during 05-13 December 2022, it received a communication from the USFDA through which the regulatory agency assigned the inspection classification of the API facility as “Voluntary Action Indicated (VAI)”.

    Based on this inspection and the USFDA VAI classification, this facility is in compliance with regard to current good manufacturing practices (cGMP).

    About Jubilant Pharmova Limited

    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is engaged in Radiopharma, Allergy Immunotherapy, CDMO of Sterile Injectable, Generics, Contract Research Development and Manufacturing (CRDMO) and Proprietary Novel Drugs businesses. With a network of 46 radio-pharmacies in the US, Jubilant’s Radiopharma business is engaged in manufacturing and supply of Radiopharmaceutical products and services. Its other businesses such as Allergy Immunotherapy, Contract Manufacturing of Sterile Injectables and Non-sterile products and Generics (Solid Dosage Formulations) caters to major regulated markets (USA, EU and other geographies) through five manufacturing facilities. The CRDMO segment (through Jubilant Biosys) provides collaborative research and partnership for Drug Discovery through two world class research centers in India. The company is also involved in the manufacturing of Active Pharmaceutical Products (API) through a US FDA approved facility in Nanjangud, Karnataka. Jubilant Therapeutics (JTI) invested for in-house Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of over 5,700 multicultural people across the globe. The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals companies globally. For more information, please visit: www.jubilantpharmova.com

    For more information, please contact:

    For Investors

    Vineet V Mayer
    Ph: +91 120 436 1021
    E-mail: vineet.mayer@jubl.com

    Disclaimer

    Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. Jubilant Pharmova may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.