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JUBILANT PHARMOVA – Q4 & FULL YEAR FY26 RESULTS

On track towards Vision 2030
Solid Revenue growth across all business segments
Onboarded one of the World’s largest Oncology products on CDMO Sterile Injectables Spokane, Line 3

1. Normalised PAT is after adjusting for exceptional items and corresponding tax.

The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter and full year ended Mar 31, 2026. The board has proposed a dividend of Rs. 5 per equity share.

Commenting on the Company’s performance for FY26, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova Limited and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova Limited said, “We are pleased to announce revenue of Rs. 8,280 Cr. for FY26, which reflects a solid growth of 14% on YoY basis. Revenue growth is particularly driven by incremental revenue generation from the new & third line in CDMO Sterile Injectable business. We expect this growth momentum to strengthen as we move in the next financial year. EBITDA for the year grew by 8% to Rs.1,326 Cr. due to improved performance across all segments except Radiopharmaceuticals, which was affected due to lower production of SPECT products at CMO Montreal. Normalised PAT for the year grew by 7% to Rs. 442 Cr. due to improved operating performance of the business. As we are consciously investing in businesses to secure future growth, Net Debt / EBITDA remains range bound at 1.3x in Mar’26, as compared to 1.1x in Mar’25.

During FY26, we saw exceptional growth momentum in the Ruby-Fill® installs. In the Allergy Immunotherapy business, we witnessed increase in demand from both markets, US and Outside US. In the CDMO Sterile Injectables business, we saw one of the fastest revenue ramp up across the industry, at Line 3 in Spokane. We are proud to share that we have onboarded one of the World’s largest Oncology products on our Line 3. In the CRDMO business, we announced a strategic partnership with Pierre Fabre, France, to expand our footprint in Europe in areas such as biologics (mAbs) and Antibody-Drug Conjugates (ADCs). We also combined drug discovery business and API Business in a single entity to improve operational efficiency & increase the brand recall of the business. In the Generics Business, we delivered a year of strong growth and double digit operating profitability. Lastly, in our Proprietary Novel drugs business, we continue to make progress in JBI-802 and JBI-778 clinical trials.

During the year, particularly in the second half, we witnessed a decline in EBITDA margins, primarily due to the temporary shutdown of our CDMO Sterile Injectables facility in Montreal, for remediation, following FDA observations. We anticipate EBITDA margins to strengthen from H2’FY27 onwards post stabilisation of production at Montreal, effectively offsetting higher depreciation costs and driving net profit growth.”

Q4’FY26 Financial Highlights

• Revenue grew by 19% on a YoY basis to Rs. 2,290 Cr. on the back of growth in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables and Generics.
• EBITDA increased by 2% on a YoY basis to Rs. 363 Cr. EBITDA margins decreased YoY due to the shortage in supply of SPECT products in Radiopharma and under absorption of costs in CMO Montreal.
• Normalised PAT stood at Rs. 129 Cr. Normalised PAT decreased marginally YoY due to increase in depreciation and interest cost.

Segmental Business Performance

Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US

Radiopharmaceuticals FY26 revenue grew by 10% to Rs. 1,178 Cr. and EBITDA for the year stood at Rs. 480 Cr. Q4’FY26 and FY26 EBITDA margins decreased YoY due to one-time negative impact of lower production of certain SPECT products at CMO Montreal. We have successfully conducted media fills at CMO Montreal, and the commercial batch production will start in the current quarter. As supply resumes, Revenue and EBITDA will normalize from H2’FY27 onwards. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. In the Ruby-Fill®, as we can demonstrate superior value proposition against competition, we are able to attract new channel partners. Our Ruby-Fill® install base has grown by 35% in FY26 vs 21% in FY25. This improved scale is also helping to increase EBITDA margins in this product category. We are on track to introduce multiple new products in the PET and SPECT imaging from FY28 to FY29. The dosing for Phase 2 clinical trial for MIBG is complete and we expect to do NDA filing by H2’FY27.

Radiopharmacy FY26 revenue grew by 9% YoY to Rs. 2,512 Cr. EBITDA for the year grew by 20% to Rs. 36 Cr. Last year, two of our PET manufacturing facilities had started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent. We continue to see increase in revenue from our three PET manufacturing facilities. We have also started distributing Pluvicto, which is a leading radiopharmaceutical to treat prostate cancer.

The proposed investment of US$ 50 million in PET manufacturing network is underway. This investment will take the overall PET radiopharmacy network to Nine (9) sites, thereby strongly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, we are expanding the overall market by increasing customer awareness. In the US Allergenic extracts, we are working to increase revenues. We are also working to increase the penetration in the markets outside the US.

In FY26, revenues grew by 12% to Rs. 785 Cr., driven by strong growth in the US & outside US markets. EBITDA grew by 13% to Rs. 278 Cr. Full year EBITDA margin at 35% is in the normalised range.

CDMO Sterile Injectables – Leading contract manufacturer in North America, serving top global innovators

FY26 revenue grew by 38% to Rs. 1,755 Cr. due to incremental revenue from Line 3. EBITDA grew by 8% on YoY basis to Rs. 314 Cr. EBITDA margins were lower YoY due to shutdown of Montreal facility in Q2 & Q3, and due to under absorption of costs due to lower production.

At the Spokane facility, the capacity expansion program remains on track. Following the launch of our third Sterile Fill & Finish line (Line 3) in Q2’FY26, we are successfully ramping up revenues from technology transfer programs. Currently, 10+ products across multiple formats and vial sizes are undergoing technology transfer on Line 3. We are happy to share that we have onboarded one of the world’s largest oncology products on Line 3. Commercial batch production is expected to commence in late FY27, subject to FDA approval of these products. Revenue at Spokane for FY26 grew by 48% to Rs. 1,714 Cr. and EBITDA grew by 59% to Rs. 463 Cr. EBITDA margins also expanded by 190 basis points to 27%.

Considering the new tariffs imposed by the US Government, large innovator pharmaceutical companies are increasingly seeking high-quality, US-based manufacturing, specifically, those with significant capacities with isolator technology. As a result, we are seeing strong traction in Requests for Proposals (RFPs) for the new lines. The next phase of capacity expansion—Line 4—is also progressing as planned. We expect Line 4 to start generating technology transfer revenues by Q4’FY27

At Montreal facility, as we move into FY27, initial focus is to stabilize production for Radiopharmaceutical products and then we shall continue to produce for other customers and also target to reduce EBITDA losses. In the medium term, we anticipate that the new isolator-based fill-and-finish line (Line 5) will start generating revenues from FY29 onwards, thereby supporting the site for a profitable future growth.

CRDMO – Indian leader for integrated drug discovery & a formidable API player

In FY26, the Drug Discovery business revenue grew by 15% to Rs. 654 Cr. Revenue continues to increase due to increase in revenue from large pharma customers. EBITDA for the year grew by 11% to Rs. 151 Cr. In the short term, we expect competitive intensity to increase in the large-pharma customer segment, while demand conditions in the biotech segment are expected to improve. In the medium term, we expect to deliver healthy revenue growth & steady margins.

In the API business, revenue for FY26 stood at Rs. 564 Cr. EBITDA for the year stood at Rs. 83 Cr. Revenue and EBITDA margins decreased YoY due to the industry wide pricing pressure. We are consciously moving the revenue mix towards profitable products. Going forward, we expect the custom manufacturing revenue mix to drive the utilisation.

We have completed the sale and transfer of API Business to Jubilant Biosys Limited, a wholly owned subsidiary of the company. This transaction has resulted in housing of the drug discovery business and CDMO API business in a single business entity. This combined platform will improve the operational efficiency in the business and lead to superior brand recall of “Jubilant Biosys Limited” as the provider of end-to-end CRDMO services by the large pharmaceutical & biotech customers. The transaction will also help to improve asset utilisation of API business by improving the revenue mix towards custom manufacturing & CDMO.

Generics – Building a growing, profitable & agile business model

In FY26, the Generics business revenue grew by 13% to Rs. 774 Cr. EBITDA for the year grew by 250% to Rs. 83 Cr. EBITDA margins increased by 7.2 percentage points. Looking ahead, we expect sustained progress toward the Generics Vision 2030 shared previously.

Proprietary Novel Drugs – Innovative biopharmaceutical company developing breakthrough therapies

The global clinical trials for our lead programs, Phase I/II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and highgrade Glioma are actively enrolling patients and progressing in line with our expectations.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited is an integrated global pharmaceutical company engaged in Radiopharma, Allergy Immunotherapy, Contract Development and Manufacturing of sterile injectable, Contract Research Development and Manufacturing, Generics and Proprietary Novel Drugs businesses. With a network of 45 radiopharmacies in the USA, the Radiopharma business is engaged in manufacturing and supply of radiopharmaceutical products and services. The Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the USA and other markets such as Canada, Europe and Australia. Contract Development and Manufacturing of sterile injectables, with facilities in Spokane, USA, and Montreal, Canada, delivers end-to-end manufacturing solutions, including sterile fill-and-finish injectables (liquid and lyophilized), comprehensive ophthalmic products (liquids, ointments and creams) and ampoules. Contract Research Development and Manufacturing business provides end-toend drug discovery and development services to the pharmaceutical and biotech industries through three world class research centres (two in India and one in France) and a US FDA approved, Active Pharmaceutical Ingredients manufacturing facility in Nanjangud, Karnataka. The Generics business focuses on development, manufacturing and distribution of Solid Dosage Formulations through multiple manufacturing facilities that cater to all the regulated market including USA, Europe and other geographies. Proprietary Novel Drugs is an innovative biopharmaceutical business developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally. For more information, please visit: www.jubilantpharmova.com.

For more information, please contact:

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.

Jubilant Pharmova - Q3 & 9M’FY26 results

Solid revenue growth of 17% on the back of Line 3 in CDMO sterile Injectables
EBITDA margins to expand going forward as production stabilizes at Montreal facility and revenue ramps up at Spokane facility of CDMO Sterile Injectables business

1. Normalised PAT is after adjusting for exceptional items and corresponding tax.

The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter and nine months ended Dec 31, 2025.

Commenting on the Company’s performance in Q3’FY26, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova Limited and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova Limited said, “We are pleased to announce revenue of Rs. 2,123 Cr. for Q3’FY26, which reflects a solid growth of 17% on YoY basis. Revenue growth is particularly driven by incremental revenue generation from the new & third line in CDMO Sterile Injectable business. We expect this growth momentum to continue as we make progress in the last quarter of current financial year. EBITDA for the period grew by 5% YoY to Rs. 310 Cr. due to improved performance in CDMO Sterile Injectables and CRDMO business. Normalised PAT for the quarter stood at Rs. 86 Cr. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA remains range bound at 1.3x in Dec’25, lower from 1.5x in Sep’25.

During Q3’FY26, we saw exceptional growth momentum in the Ruby-Fill® installs. In the Allergy Immunotherapy business, we witnessed increase in demand from the US market. In the CDMO Sterile Injectables business, we ramped up revenue generation from technology transfer programs at Line 3 in Spokane. In the CRDMO business, we continue to invest in building CDMO capabilities. In the Generics business, we are foreseeing growth & profitability improvement. Lastly, in our Proprietary Novel drugs business, we continue to make progress in JBI-802 and JBI-778 clinical trials.

During the quarter, we witnessed a decline in EBITDA margins, primarily due to the temporary shutdown of our CDMO Sterile Injectables facility in Montreal for remediation following FDA observations. Production has resumed at our Montreal site in Q4’FY26. We anticipate EBITDA margins to strengthen going forward, effectively offsetting higher depreciation costs and driving net profit growth.”

9M’FY26 Financial Highlights

• Revenue grew by 13% on a YoY basis to Rs. 5,990 Cr. on the back of growth in revenue across all business segments.
• EBITDA grew by 10% on a YoY basis to Rs. 963 Cr. due to improved performance across all business segments.
• Normalised PAT increased by 13% on a YoY basis to Rs. 313 Cr. on the back of improved operating performance and reduced finance cost. Reported PAT in 9M’FY25 at Rs. 685 Cr. was higher because of one-time net exceptional income of Rs. 382 Cr.

Segmental Business Performance

Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US

Radiopharmaceuticals Q3’FY26 revenue grew by 12% to Rs. 298 Cr. and EBITDA for the quarter stood at Rs. 122 Cr. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. In the Ruby-Fill® as we can demonstrate superior value proposition against competition, we are able to attract new channel partners. Our Ruby-Fill® install base has grown by 37% in 9M’FY26 on an annualised basis vs 21% in FY25. This improved scale is also helping to increase EBITDA margins in this product category. We are on track to introduce multiple new products in the PET and SPECT imaging from FY27 to FY29. The dosing for Phase 2 clinical trial for MIBG is complete and we are preparing data package to be submitted to FDA latest by Jun’26.

Radiopharmacy Q3’FY26 revenue grew by 11% YoY to Rs. 637 Cr. EBITDA margins for Q3’FY26 stood at 1%. EBITDA margins remained weak due to increased competitive intensity in the SPECT business. Last year, two of our PET radiopharmacies have started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent. We continue to see increase in revenue from PET radiopharmacies. We have also started distributing Pluvicto, which is a leading radiopharmaceutical to treat Prostate cancer.

The proposed investment of US$ 50 million in PET radiopharmacy network is underway. This investment will take the overall PET radiopharmacy network to Nine (9) sites, thereby solidly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business is working to increase revenues. The business is also working to increase penetration in the outside US markets.

In Q3’FY26, revenues grew by 12% to Rs. 193 Cr., driven by strong growth in the US & outside US markets. EBITDA remained flat YoY at Rs. 49 Cr. The QoQ decline in EBITDA was primarily due to lower production during the quarter. With production picking up now, we expect to recover the margin gap in Q4’FY26 to deliver normalized margins on a full year basis.

CDMO Sterile Injectables - Leading contract manufacturer in North America, serving top global innovators

Q3’FY26 revenue grew by 49% to Rs. 457 Cr. due to incremental revenue from ongoing technology transfer programs in Line 3. EBITDA grew by 31% on YoY basis to Rs. 68 Cr. EBITDA margins were lower YoY due to shutdown at Montreal facility on account of remediation post FDA observations. Production has resumed at the Montreal facility in Q4’FY26.

In 9M’FY26, EBITDA margins for the Spokane facility stand at 25%. However, the temporary shutdown of the Montreal facility for two quarters, coupled with higher remediation-related costs, has led to lower overall business segment margins to 18% for the nine-month period.

As we move into FY27, we expect to increase EBITDA substantially, supported by a structured costreduction program at the Montreal facility. Our target is to achieve EBITDA breakeven at the Montreal site by FY28. In the medium term, we anticipate that the new isolatorbased fillandfinish line (Line 5) will start generating revenues from FY29 onwards, thereby supporting future growth.

The capacity expansion program at our Spokane, Washington facility remains on track. Following the launch of our third Sterile Fill & Finish line (Line 3) in Q2’FY26, we are successfully ramping up revenues from technology transfer programs. Currently, 6+ products across multiple formats and vial sizes are undergoing technology transfer on Line 3. Commercial batch production is expected to commence in late FY27, subject to FDA approval of these products.

In light of the new tariffs imposed by the US Government, large innovator pharmaceutical companies are increasingly seeking highquality, USbased manufacturing, specifically, those with significant capacities with isolator technology. As a result, we are seeing strong traction in Requests for Proposals (RFPs) for the new lines. The next phase of capacity expansion—Line 4—is also progressing as planned. We expect Line 4 to start generating technology transfer revenues by Q4’FY27.

CRDMO - Indian leader for integrated drug discovery & formidable API player

In Q3’FY26, the Drug Discovery business revenue grew by 13% to Rs. 169 Cr. Revenue continues to increase due to increase in revenue from large Pharma customers. EBITDA margins for Q3’FY26 stand at 26%. EBITDA margins are higher on QoQ basis due to improved revenue mix towards CDMO business. In the short term, we expect competitive intensity to increase in the largepharma customer segment, while demand conditions in the biotech segment are expected to improve. In the medium term, we expect to deliver healthy revenue growth & steady margins.

In the API business, revenue for Q3’FY26 stood at Rs. 129 Cr. EBITDA for the quarter stood at Rs. 18 Cr. EBITDA margins are flat YoY despite decrease in revenue due to profitable product mix. 9M’FY26 EBITDA margins improved by 280 bps to 15%. We have completed the sale and transfer of API Business to Jubilant Biosys Limited, a wholly owned subsidiary of the Company. This transaction has resulted in housing of the drug discovery business and CDMO API business in a single business entity. This combined platform will improve the operational efficiency in the business and lead to superior brand recall of “Jubilant Biosys Limited” as provider of end-to-end CRDMO services by the large pharmaceutical & Biotech customers. The transaction will also help to improve asset utilisation of API business by improving the revenue mix towards Custom manufacturing & CDMO.

Generics - Building a growing, profitable & agile business model

In Q3’FY26, the Generics business revenue grew by 13% to Rs. 226 Cr. EBITDA for the period stood at Rs. 26 Cr. In 9M’FY26, EBITDA margins increased by 150 basis points to 9%. The business has been profitable for the past three quarters and has now begun to show growth momentum. Looking ahead, we expect sustained progress toward the Generics Vision 2030 shared previously.

We plan to launch 6 to 8 products per annum in our US and non-US international markets. In line with our plan, we are ramping up exports to the US markets in a meaningful and gradual manner. We have also started supply of products from our Contract manufacturing partners to the US market.

Proprietary Novel Drugs - Innovative biopharmaceutical company developing breakthrough therapies

The global clinical trials for our lead programs, Phase II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and high grade Glioma are actively enrolling patients and progressing in line with our expectations.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with a global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and Proprietary Novel Drugs businesses. In the Radiopharma business, the Company is involved in the manufacturing and supply of Radiopharmaceuticals with a network of 45 radiopharmacies in the US. The Company’s Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the US and in some other markets such as Canada, Europe and Australia. Jubilant Pharmova Limited through its CDMO Sterile Injectables business offers manufacturing services including sterile fill and finish injectables (both liquid and lyophilization), full-service ophthalmic offer (liquids, ointments & creams) and ampoules. The CRDMO business of the Company includes the Drug Discovery Services business that provides contract research and development services through two world-class research centers in Bengaluru and Noida in India and one in France. The CDMO-API business that is involved in the manufacturing of Active Pharmaceutical Ingredients. Jubilant Therapeutics is involved in the Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. The Company operates multiple manufacturing facilities that cater to all the regulated markets including USA, Europe and other geographies. Jubilant Pharmova Limited has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.

For more information, please contact:

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.

Jubilant Pharmova Limited announces the appointment of Daniel J. O’Connor as the CEO of its Proprietary Novel drugs business.

Dan brings more than 30 years of leadership experience in Biotechnology and Oncology, with a proven record of creating value around differentiated, IP-rich platforms. Most recently, he served as CEO of Ambrx Biopharma, where his leadership drove a significant increase in company valuation culminating in its successful acquisition.

Earlier in his career, Dan was instrumental at ImClone Systems, contributing to the clinical development, launch, and commercialization of a major oncology therapy while navigating complex intellectual property and inventorship challenges. He also served as CEO of Advaxis, a NASDAQ-listed immuno-oncology company, where he transformed the organization into a late-stage clinical enterprise, secured substantial growth capital, and forged strategic collaborations with leading pharmaceutical partners.

Commenting on the occasion, Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman, Jubilant Pharmova Limited, said, “We are delighted to welcome Dan as we advance our mission of building a clinical-stage therapeutics company focused on developing innovative therapies across multiple cancer indications.”

On the Occasion, Mr. Daniel J. O’Connor, said, “I am honoured to lead Jubilant Therapeutics, a company dedicated to driving breakthrough innovation for cancers that are difficult to treat. I look forward to collaborating closely with our talented team to advance our mission and deliver meaningful value to patients, partners, and stakeholders alike.”

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. The Company’s clinical pipeline consists of a first in class dual CoREST modifier, JBI-802, currently in a Phase I/II clinical trial in multiple tumors and a novel brain-penetrant modulator of PRMT5, currently in Phase I clinical trial. Additional pre-clinical programs include brain penetrant and gut restrictive PDL1 inhibitors, as well as PAD4 inhibitors for oncology and inflammatory indications. The Company is headquartered in Pennsylvania and guided by globally renowned scientific advisors.

For more information, please visit www.jubilanttx.com or follow us on X @JubilantTx and LinkedIn.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with a global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and Proprietary Novel Drugs businesses. In the Radiopharma business, the Company is involved in the manufacturing and supply of Radiopharmaceuticals with a network of 45 radiopharmacies in the US. The Company’s Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the US and in some other markets such as Canada, Europe and Australia. Jubilant Pharmova Limited through its CDMO Sterile Injectables business offers manufacturing services including sterile fill and finish injectables (both liquid and lyophilization), full-service ophthalmic offer (liquids, ointments & creams) and ampoules. The CRDMO business of the Company includes the Drug Discovery Services business that provides contract research and development services through two world-class research centers in Bengaluru and Noida in India and one in France. The CDMO-API business that is involved in the manufacturing of Active Pharmaceutical Ingredients. Jubilant Therapeutics is involved in the Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. The Company operates multiple manufacturing facilities that cater to all the regulated markets including USA, Europe and other geographies. Jubilant Pharmova Limited has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.

For more information, please contact:

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.

On track towards Vision 2030 Strong growth in Revenue along with EBITDA & PAT Margin expansion Start of revenue from new & third line in CDMO Sterile Injectables business at Spokane, US

1. Normalised PAT is after adjusting for exceptional items and corresponding tax.

The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter and half year ended September 30, 2025.

Commenting on the Company’s performance in Q2’FY26, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova Limited and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova Limited said, “We are pleased to announce revenue of Rs. 1,966 Cr. for Q2’FY26, which reflects a growth of 12% on YoY basis. Revenue growth is driven by incremental revenue generation that has started from the new & third line in CDMO Sterile Injectable business. We expect this growth momentum to further accelerate as we make progress in the second half of current financial year. EBITDA for the period grew by 13% YoY to Rs. 351 Cr. due to improved performance in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables and CRDMO business. Normalised PAT grew by 21% to Rs. 124 Cr. on the back of improved operating performance and reduced finance cost. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA increased from 1.1x in Mar’25 to 1.5x in Sep’25.

Q2’FY26 witnessed strong growth in Ruby-Fill® installs, increased demand in the US Allergy Immunotherapy market, launch of the third sterile injectables line at Spokane, and continued investments in CRDMO capabilities. The Company also completed the sale of its API business to Jubilant Biosys Limited. Generics business performance improved, with growth and profitability outlook strengthening. Proprietary Novel drugs pipeline continues to progress with JBI-802 and JBI-778 clinical trials.”

H1’FY26 Financial Highlights

• Revenue grew by 11% on a YoY basis to Rs. 3,867 Cr. on the back of growth in revenue across all business units.
• EBITDA grew by 13% on a YoY basis to Rs. 653 Cr. due to improved performance across all business units.
• Normalised PAT increased 32% YoY to Rs. 227 Cr due to improved operating performance and lower finance cost.
• Normalised PAT increased by 32% on a YoY basis to Rs. 227 Cr. on the back of improved operating performance and reduced finance cost. Reported PAT in H1’FY25 at Rs. 584 Cr. was higher because of one-time net exceptional income of Rs. 382 Cr.

Segmental Business Performance

Radiopharma

Radiopharmaceuticals Q2’FY26 revenue grew by 16% to Rs. 291 Cr. and EBITDA increased by 6% YoY at Rs. 127 Cr. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. In the Ruby-Fill® as we are able to demonstrate superior value proposition against competition, we are able to attract new channel partners. In the last one year, our Ruby-Fill® install base has grown by 24%. This improved scale is also helping to increase EBITDA margins in this product category. We are on track to introduce multiple new products in the PET and SPECT imaging from FY27 to FY29. The dosing for Phase 2 clinical trial for MIBG is complete and we are preparing data package to be submitted to FDA by H2’FY26.

Radiopharmacy Q2’FY26 revenue grew by 7% YoY to Rs. 607 Cr. EBITDA margins for Q2’FY26 stands at 1%. EBITDA margins remained weak due to increased competitive intensity in the SPECT business. Last year, two of our PET radiopharmacies have started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent. We continue to see increase in revenue from PET radiopharmacies.

The proposed investment of US$ 50 million in PET radiopharmacy network is underway. This investment will take the overall PET radiopharmacy network to Nine (9) sites, thereby solidly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business is working to increase revenues. The business is also working to increase penetration in the outside US markets.

In Q2’FY26, revenues grew by 14% to Rs. 194 Cr. on the back of growth in revenues from US market. EBITDA increased by 65% on a YoY basis to Rs. 76 Cr. EBITDA margins increased by 1210 bps on a YoY basis to 39%. We anticipate outside US sales to gradually improve.

CDMO Sterile Injectables – Leading contract manufacturer in North America, serving top global innovators

Q2’FY26 revenue grew by 30% to Rs. 393 Cr. due to increase in sales volume in Line 1 & 2 in Spokane and incremental revenue from Line 3 from Technology transfer programs. EBITDA grew by 6% to Rs. 94 Cr due to incremental EBITDA from Line 3. EBITDA margins were lower YoY due to shutdown at Montreal facility on account of internal quality system improvements and facility upgrades to address the current “OAI” status.

The capacity expansion program in Spokane, Washington, USA is on track. We successfully launched new Sterile Fill & Finish line, third at our Spokane Manufacturing Facility in Washington, US with a total investment of US $ 132 million.

The launch was marked by the successful production of the inaugural batch, initiating revenue generation from the technology transfer programs. Currently, we are running technology transfer programs for 5 to 6 products across multiple formats (vial sizes) on Line 3. We expect commercial batch production to start from FY27 post FDA approval of these products. In the wake of new tariffs imposed by the US Government, large innovator pharma companies are looking for high quality, US manufacturing facilities. Therefore, we are witnessing a very strong traction in Requests for Proposals (RFPs) for the New Line and expect to reach full utilisation for the Line 3 in the next 3 years. Also, the next phase of capacity expansion at Spokane, Line 4, is also on track and we expect to start commercial production by FY28.

CRDMO – Indian leader for integrated drug discovery & formidable API player

In Q2’FY26, the Drug Discovery business revenue grew by 7% to Rs. 162 Cr. EBITDA margins for Q2’FY26 stands at 21%. Revenue continue to increase due to increase in revenue from large Pharma customers. We have integrated new R&D facility in France and are now investing in business development. EBITDA margins are lower YoY due to change in project mix and investment in business development. Overall, the medium term outlook continues to be positive on the back of the increase in large pharma clients and the addition in new capabilities.

The API business revenue grew by 8% to Rs. 137 Cr in Q2’FY26. EBITDA for the quarter increased by 70% YoY to Rs. 21 Cr. EBITDA margins are higher YoY due to continued focus on profitable products . We have completed the sale and transfer of API Business to Jubilant Biosys Limited, a wholly owned subsidiary of the Company. This transaction has resulted in housing of the drug discovery business and CDMO API business in a single business entity. This combined platform will improve the operational efficiency in the business and lead to superior brand recall of “Jubilant Biosys Limited” as provider of end-to-end CRDMO services by the large pharmaceutical & Biotech customers. The transaction will also help to improve asset utilisation of API business by improving the revenue mix towards Custom manufacturing & CDMO.

Generics – Building a growing, profitable & agile business model

In Q2’FY26, the Generics business revenue stands at Rs. 167 Cr. EBITDA for the period stands at Rs. 14 Cr. In H1’FY26, EBITDA margins increased by 460 basis points to 8%.

We plan to launch 6 to 8 products per annum in our US and non-US international markets. In line with our plan, we are ramping up exports to the US markets in a meaningful and gradual manner. We have also started supply of products from our Contract manufacturing partners to the US market.

Proprietary Novel Drugs – Innovative biopharmaceutical company developing breakthrough therapies

The global clinical trials for our lead programs, Phase II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and high grade Glioma are actively enrolling patients and progressing in line with our expectations.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with a global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and Proprietary Novel Drugs businesses. In the Radiopharma business, the Company is involved in the manufacturing and supply of Radiopharmaceuticals with a network of 45 radiopharmacies in the US. The Company’s Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the US and in some other markets such as Canada, Europe and Australia. Jubilant Pharmova Limited through its CDMO Sterile Injectables business offers manufacturing services including sterile fill and finish injectables (both liquid and lyophilization), full-service ophthalmic offer (liquids, ointments & creams) and ampoules. The CRDMO business of the Company includes the Drug Discovery Services business that provides contract research and development services through two world-class research centers in Bengaluru and Noida in India and one in France. The CDMO-API business that is involved in the manufacturing of Active Pharmaceutical Ingredients. Jubilant Therapeutics is involved in the Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. The Company operates multiple manufacturing facilities that cater to all the regulated markets including USA, Europe and other geographies. Jubilant Pharmova Limited has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.

For more information, please contact:

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.

Noida, India & Spokane, Washington, US - October 10, 2025 Jubilant Pharmova Limited announced today that Jubilant HollisterStier LLC (JHS)—a wholly owned subsidiary and a leading North American pharmaceutical contract manufacturer, specialising in sterile injectables and serving top global innovator pharma companies—successfully launched its New Sterile Fill & Finish line, third at its Spokane Manufacturing Facility in Washington, US. The launch was marked by the successful production of the inaugural batch, initiating revenue generation from the new Line. This milestone denotes a significant advancement in Jubilant HollisterStier’s multi-phase expansion strategy and brings an additional 50% capacity at its Spokane manufacturing facility.

The New Line features advanced isolator technology designed to deliver enhanced sterility assurance, throughput and operational precision. Built to meet the highest global regulatory standards, the New Line significantly enhances the Company’s ability to support complex injectable programs across a broad range of therapeutic areas. The US$ 132 million investment towards this New Third Line, reflects the Company’s long-term commitment to innovation, quality and supply chain resilience.

Together with the commissioning of its upcoming Fourth Line, JHS is on track to double its total sterile injectable manufacturing capacity at its Spokane facility in the US. This strategic investment further reinforces JHS’ leadership in domestic US pharmaceutical manufacturing. By expanding its infrastructure and increasing onshore capacity, the Company is contributing to US national health security and helping to reduce reliance on offshore supply chains—delivering a more resilient and agile pharmaceutical manufacturing ecosystem.

Commenting on the development, Chris Preti, CEO - CDMO Sterile Injectables said, “Launching our Third Line is more than a milestone for us—it’s a defining moment in Jubilant HollisterStier’s journey. This expansion also reflects our deep-rooted commitment, to continued growth, technological excellence and the community at Spokane. With Third Line now operational and Fourth Line on the horizon, we are not just doubling our capacity, we’re building a future that will create hundreds of new jobs, strengthen the US pharmaceutical supply chain and reaffirm our role as a trusted partner in delivering life-saving therapies to patients around the world.” He further added, “In the wake of new tariffs imposed by the US Government, large innovator pharma companies are looking for high quality, US manufacturing facilities. Therefore, we are witnessing a very strong traction in Requests for Proposals (RFPs) for the New Line. We expect to reach the full utilisation for the New Line in the next 3 years.”

Trusted by 5 of the top 20 global pharma companies as partners, JHS has a 92% customer retention rate that reflects high level of customer satisfaction. It also has a proven track-record, with regulatory organisations like the US FDA, EMA, PMDA Japan, Health Canada, ANVISA Brazil and other bodies in over 140 countries worldwide.

About Jubilant HollisterStier LLC

Jubilant HollisterStier LLC is a subsidiary of Jubilant Pharma Holding Inc., which is a wholly-owned subsidiary of Jubilant Pharmova Limited. Jubilant HollisterStier is a leading Contract Development & Manufacturing Organisation specialising in comprehensive sterile fill-finish, lyophilization and ophthalmic manufacturing services. With decades of proven expertise and advanced facilities in Spokane, Washington, and Montréal, Québec, JHS delivers high-quality pharmaceutical products to meet the rigorous standards of global healthcare markets and patients worldwide. Its flexible, collaborative partnership model empowers clients to accelerate speed to market while maintaining full regulatory confidence and manufacturing excellence.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with a global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and Proprietary Novel Drugs businesses. In the Radiopharma business, the Company is involved in the manufacturing and supply of Radiopharmaceuticals with a network of 45 radiopharmacies in the US. The Company’s Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the US and in some other markets such as Canada, Europe and Australia. Jubilant Pharmova Limited through its CDMO Sterile Injectables business offers manufacturing services including sterile fill and finish injectables (both liquid and lyophilization), full-service ophthalmic offer (liquids, ointments & creams) and ampoules. The CRDMO business of the Company includes the Drug Discovery Services business that provides contract research and development services through two world-class research centers in Bengaluru and Noida in India and one in France. The CDMO-API business that is involved in the manufacturing of Active Pharmaceutical Ingredients. Jubilant Therapeutics is involved in the Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. The Company operates multiple manufacturing facilities that cater to all the regulated markets including USA, Europe and other geographies. Jubilant Pharmova Limited has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.

For more information, please contact:

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.

On track towards Vision 2030
Solid growth momentum along with EBITDA & PAT margin expansion
Strong customer traction in CDMO Sterile Injectable business

1. Normalised PAT is after adjusting for exceptional items and tax.
In Q1’FY25, Reported PAT at Rs.482 Cr. was higher due to one-time net exceptional income of Rs. 396 Cr

The Board of Jubilant Pharmova Limited met today to approve financial result for the quarter ended June 30, 2025.

Commenting on the Company’s performance in Q1’FY26, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova Limited and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, Jubilant Pharmova Limited said, “We are pleased to announce revenue of Rs. 1,901 Cr. in Q1’FY26, growth of 10% over last year, same quarter. It is heartening to note is that we delivered solid revenue growth across all of our business units and we expect this growth momentum to grow stronger as we move forward. EBITDA grew by 14% YoY to Rs. 302 Cr. Ebitda margins expanded by 60 basis points on the back of improved operating performance across CRDMO and Generics. Normalised PAT grew by 48% to Rs. 103 Cr. on the back of improved operating performance and reduced finance cost. Reported PAT in Q1’FY25 at Rs. 482 Cr. was higher because of one time net exceptional income of Rs. 396 Cr. As we are consciously investing in Radiopharma, CDMO Sterile Injectables and CRDMO business to secure future growth, Net Debt / EBITDA increased marginally from 1.1x in Mar’25 to 1.2x in Jun’25 on the back of increased capex intensity.

During Q1’FY26, we saw continued growth momentum from Ruby-Fill® and PET radiopharmacies. In the Allergy Immunotherapy, we witnessed increase in demand from the US. In the CDMO Sterile Injectables, strong customer traction for Line 3 in Spokane continues. In the CRDMO business, we integrated the new R&D facility in France and are now investing in business development initiatives. In the Generics business, we are foreseeing growth & profitability improvement. Lastly, in our Proprietary Novel drugs business, we continue to progress in dosing patients in JBI-802 and JBI-778 clinical trials.”

Q1’FY26 Financial Highlights

In Q1’FY26, Revenue grew by 10% on a YoY basis to Rs. 1,901 Cr. on the back of growth in revenue across all business units. EBITDA grew by 14% on a YoY basis to Rs. 302 Cr. due to improved performance in CRDMO and Generics. Q1’FY26 normalised PAT increased by 48% on a YoY basis to Rs. 103 Cr. on the back of improved operating performance and reduced finance cost. Reported PAT in Q1’FY25 at Rs. 482 Cr. was higher because of one time exceptional income of Rs. 396 Cr.

Segmental Business Performance

Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US

Radiopharmaceuticals Q1’FY26 revenue grew by 3% to Rs. 271 Cr. and EBITDA remained stable YoY at Rs. 126 Cr. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. On the PET side, The Ruby-Fill® installations are increasing. We are on track to introduce multiple new products in the PET and SPECT imaging from FY27 to FY29. The dosing for Phase 2 clinical trial for MIBG is complete and we are preparing data package to be submitted to FDA by H2’FY26.

Radiopharmacy Q1’FY26 revenue grew by 5% YoY to Rs. 598 Cr. EBITDA margins for Q1’FY26 stands at 2%. EBITDA margins remained weak due to increased competitive intensity in the SPECT business. In H2’FY25, two of our PET radiopharmacies have started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent. We continue to see increase in revenue from PET radiopharmacies.

The proposed investment of US$ 50 million in PET radiopharmacy network is underway. This investment will take the overall PET radiopharmacy network to Nine (9) sites, thereby solidly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business is working to increase revenues. The business is also working to increase penetration in the outside US markets.

In Q1’FY26, revenues grew by 8% to Rs. 181 Cr. on the back of growth in revenues from US market. EBITDA remained stable YoY at Rs. 63 Cr. EBITDA margin for Q1’FY26 stands at 35%. We anticipate outside US sales to gradually improve.

CDMO Sterile Injectables – Leading contract manufacturer in North America, serving top global innovators

Q1’FY26 revenue grew by 14% to Rs. 370 Cr. due to increase in sales volume. EBITDA grew by 9% to Rs. 62 Cr. EBITDA margins are lower QoQ due to annual maintenance shutdown at Spokane facility. The capacity expansion program in Spokane, Washington, USA is on track. Media fills had been successfully completed on Line 3 and the technology transfer programs are underway. The large innovator pharma companies are now looking to create an alternate manufacturing site in the US as a risk management strategy to mitigate any potential tariff’s imposed by the US govt. In light of the same, we are starting to see excellent traction in Requests for Proposals (RFPs) for Line 3 including from Big Pharma. We expect to finalise these within FY26. The commercial production on line 3 is expected to start in FY26. We also expect to reach peak utilisation for Line 3 in three years post start of commercial production vs four years, expected earlier. The Montreal facility continued operations after successful implementation of corrective and preventive actions.

CRDMO – Indian leader for integrated drug discovery & formidable API player

In Q1’FY26, the Drug Discovery business revenue grew by 42% to Rs. 161 Cr. EBITDA grew by 46% to Rs. 32 Cr. Revenue continue to increase due to increase in revenue from large Pharma customers. We have integrated new R&D facility in France and are now investing in business development. EBITDA margins lower QoQ due to change in project mix and investment in business development. Overall, the medium term outlook continues to be positive on the back of the increase in large pharma clients and the addition in new capabilities.

The API business revenue grew by 9% to Rs. 141 Cr in Q1’FY26. EBITDA grew by 36% to Rs. 22 Cr. EBITDA margins improved by 310 basis points due to profitable product mix.

We have proposed sale and transfer of API Business to Jubilant Biosys Limited, a wholly owned subsidiary of the Company. This transaction will result in housing of the drug discovery business and CDMO API business in a single business entity. This combined platform will improve the operational efficiency in the business and lead to superior brand recall of “Jubilant Biosys Limited” as provider of end-to-end CRDMO services by the large pharmaceutical & Biotech customers. The transaction will also help to improve asset utilisation of API business by improving the revenue mix towards Custom manufacturing & CDMO.

Generics – Building a growing, profitable & agile business model

In Q1’FY26, the Generics business revenue grew by 7% to Rs. 166 Cr. EBITDA for the period stands at Rs. 12 Cr. Revenue increase is primarily driven by Non US markets. EBITDA margins improved by 1,400 basis points YoY due to focus on profitable products.

We plan to launch 6 to 8 products per annum in our US and non-US international markets. In line with our plan, we are ramping up exports to the US markets in a meaningful and gradual manner. We have also started supply of products from our Contract manufacturing partners to the US market.

Proprietary Novel Drugs – Innovative biopharmaceutical company developing breakthrough therapies

The global clinical trials for our lead programs, Phase II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and high grade Glioma are actively enrolling patients and progressing in line with our expectations.

About Jubilant Pharmova Limited

Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company with a global presence that is involved in Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables, Contract Research Development and Manufacturing Organisation (CRDMO), Generics and Proprietary Novel Drugs businesses. In the Radiopharma business, the Company is involved in the manufacturing and supply of Radiopharmaceuticals with a network of 45 radiopharmacies in the US. The Company’s Allergy Immunotherapy business is involved in the manufacturing and supply of allergic extracts and venom products in the US and in some other markets such as Canada, Europe and Australia. Jubilant Pharmova Limited through its CDMO Sterile Injectables business offers manufacturing services including sterile fill and finish injectables (both liquid and lyophilization), full-service ophthalmic offer (liquids, ointments & creams) and ampoules. The CRDMO business of the Company includes the Drug Discovery Services business that provides contract research and development services through two world-class research centers in Bengaluru and Noida in India and one in France. The CDMO-API business that is involved in the manufacturing of Active Pharmaceutical Ingredients. Jubilant Therapeutics is involved in the Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. The Company operates multiple manufacturing facilities that cater to all the regulated markets including USA, Europe and other geographies. Jubilant Pharmova Limited has a team of around 5,500 multicultural people across the globe. The Company is well recognised as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.

For more information, please contact:

Disclaimer

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objZectives, 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.

Noida, June 26, 2025 The Jubilant Bhartia Foundation, in partnership with the Schwab Foundation for Social Entrepreneurship (sister organisation of The World Economic Forum) are proud to announce the finalists of the 16th edition of the ‘Social Entrepreneur of the Year’ India Award 2025. This 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 selected Finalists and their organisations are:

• Kalpana Sankar, Hand in Hand India and Belstar Microfinance, Tamil Nadu – www.hihindia.org
• Piyush Tewari, SaveLIFE Foundation, New Delhi – www.savelifefoundation.org
• Nagakarthik MP, Sauramandala Foundation, Meghalaya – www.sauramandala.org
• Sumita Ghose, Rangsutra Crafts India, New Delhi – www.rangsutra.com

The final winner will be announced on August 8, 2025, in a ceremony in New Delhi, where global leaders and representatives from various sectors will gather to celebrate social entrepreneurship.

Selection Criteria:

• Addressing social inequalities, exclusion and marginalisation
• Unique social model or initiative
• Potential for sustainable, systemic-level change

The Jubilant Bhartia Foundation conducted background research, team interactions, impact assessments, expert reviews and reference checks to select these four high-impact social innovators.

The winner will join the Schwab Foundation’s global network of social innovators and can apply for the Hindustan Times Fellowship for the Stanford Seed Transformation program.

Statistics:

• 172 applications received in 2025
• 60% were first-time applicants
• Top sectors: Education, Healthcare, Livelihood, Agriculture, Clean Technology

The shortlisted finalists have contributed to:

• Poverty alleviation via Self-Help Groups, education and livelihood generation
• Road safety and trauma care through policy advocacy and tech-driven solutions
• Socioeconomic change in remote areas through solar-powered public health and rural entrepreneurship
• Empowering rural artisans via cooperatives, skill-building, and fair wages

Meet the Finalists

Kalpana Sankar
Organisation: Hand in Hand India and Belstar Microfinance
Website: hihindia.org
Year Established: 2004
Sector: Rural Development and Poverty Alleviation

About: Dr. Kalpana Sankar, a nuclear physicist turned visionary social entrepreneur, is the Managing Director of Belstar Microfinance Ltd. and Co-founder & Chairperson of Hand in Hand India. She has impacted over 10 million women through employment and enterprise development. Her five-pillar model integrates financial inclusion, education, healthcare, sanitation, and livelihoods. Hand in Hand India has mobilised 5.75 million women into SHGs, disbursed ?34,000 crore in microfinance, transitioned 373,040 children from labour to school, and revived 45,115 hectares for organic farming. She has received the Nari Shakti Puraskar and Princess Sabeeka Global Award.

Piyush Tewari
Organisation: SaveLIFE Foundation
Website: savelifefoundation.org
Year Established: 2008
Sector: Public Health

About: Piyush Tewari, a Harvard graduate and ex-private equity professional, founded SaveLIFE Foundation after a personal tragedy. He led the enactment of India’s first Good Samaritan Law and created the Zero-Fatality Solutions program that cut road deaths by 67% in high-risk zones. His organisation’s work spans safer road design, enforcement, trauma response, and community engagement.

Nagakarthik MP
Organisation: Sauramandala Foundation
Website: sauramandala.org
Year Established: 2018
Sector: Digital Governance and Poverty Alleviation

About: Nagakarthik MP, inspired to bridge policy and ground realities, founded Sauramandala Foundation using a community-led, co-creation approach. Their Centre for Accelerated Development (CFAD) empowers underserved communities in Northeast India. With support to 450+ rural entrepreneurs and 10,000 youth, their clean energy initiatives now power 350+ health centres. Their participatory model is transforming public policy to be locally informed and scalable.

Sumita Ghose
Organisation: Rangsutra Crafts India
Website: rangsutra.com
Year Established: 2006
Sector: Women Empowerment and Livelihood

About: After her husband’s death, Sumita Ghose founded Rangsutra to connect rural artisans to global markets. Rangsutra has empowered over 8,000 artisans—70% of them women—through design workshops, enterprise training and shareholder ownership. Their impact extends to over 50,000 beneficiaries. Rangsutra blends heritage with innovation to deliver dignity and livelihood to India’s craft communities.

About Us

Schwab Foundation for Social Entrepreneurship: In partnership with the World Economic Forum, it’s a global platform supporting systemic change through social innovation since 1998. Co-founded by Klaus and Hilde Schwab.

• Website: www.schwabfound.org
• Facebook: facebook.com/schwabfound
• Instagram: instagram.com/schwabfoundation
• LinkedIn: linkedin.com/company/schwab-foundation

Jubilant Bhartia Foundation (JBF): Founded in 2007 as the CSR arm of Jubilant Bhartia Group, JBF works in community development, healthcare, environment, education, sports, and social entrepreneurship.

• Website: www.jubilantbhartiafoundation.com
• Twitter: @indiaseoy
• Facebook: facebook.com/IndiaSEOY

Media Contact:
Vivek Prakash
Jubilant Bhartia Foundation
Ph: +91 120 436 1804; 9810674758
Email: vivek.prakash@jubl.com

On track towards realizing Vision 2030
Sustained growth momentum, EBITDA margin expansion and Net Debt / EBITDA reduction Strong industry tailwinds in CDMO Sterile Injectable business in the post tariff world

1. Normalised PAT is after adjusting for exceptional items and tax

Commenting on the Company’s performance in FY25, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, said, “We are pleased to announce revenue of Rs. 7,235 Cr. in FY25, growth of 8% over last year. We delivered robust revenue growth across Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables and CRDMO businesses. EBITDA grew by 24% to Rs. 1,230 Cr. on the back of strong operating performance across all business units. EBITDA margins for the year expanded by 220 basis points. Reported PAT grew by 1,050% to Rs. 836 Cr., while normalised PAT grew by 112% to Rs. 415 Cr. on the back of improved operating performance and reduced finance cost. Net Debt / EBITDA reduced from 2.5x in Mar’24 to 1.1x in Mar’25 on the back of voluntary debt prepayment of USD 125 million in FY25.

In Feb’2025, we outlined our Vision 2030, which is to double our revenues from FY24 to FY30, improve EBITDA margins to 23% to 25% range, reduce Net debt to zero and grow Return on Capital to high teens. Our FY25 financial performance takes us one-step closer to our Vision.

During the year, the Company started distributing Pylarify®, an industry leading prostate cancer diagnostic imaging agent from PET radiopharmacies, completed Media Fills on Line 3 in CDMO Sterile Injectables, added strategic capabilities in the area of Biologics and Antibody drug conjugates in Drug Discovery, reached profitability in the Generics business and dosed first patients in JBI-802 and JBI-778 clinical trials.

The large innovator pharma companies, for their US requirements, are now looking to create an alternate manufacturing site in the US as a risk management measure in the event of tariff imposed by the US govt. Therefore, the company is starting to see excellent traction in the CDMO Sterile Injectable business for new lines in the Spokane facility. We expect to reach peak utilisation for Line 3 in 3 years from start of commercial production vs 4 years, expected earlier.”

Q4’FY25 Financial Highlights

In Q4’FY25, Revenue grew by 10% on a YoY basisto Rs. 1,929 Cr. on the back of growth in revenue across Radiopharma, Allergy Immunotherapy, CDMO Sterile Injectables and CRDMO Business. EBITDA grew by 23% on a YoY basis to Rs. 357 Cr. due to improved performance in Radiopharmaceuticals, Allergy Immunotherapy, CDMO Sterile Injectables and CRDMO. Q4’FY25 normalised PAT increased by 127% on a YoY basis to Rs. 139 Cr. on the back of improved operating performance.

Segmental Business Performance

Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US

Radiopharmaceuticals FY25 revenue grew by 13% to Rs. 1,074 Cr. and EBITDA grew by 6% to Rs. 505 Cr. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. On the PET side, The RubyFill® installations are increasing. We are on track to introduce multiple new products in the PET and SPECT imaging from FY27 to FY29. The dosing for Phase 2 clinical trial for MIBG is complete and we are preparing data package to be submitted to FDA by H2’FY26.

Radiopharmacy FY25 revenue grew by 13% YoY to Rs. 2,314 Cr. EBITDA margins for the year stands at 1%. During the year, EBITDA margins reduced due to increased competitive intensity in the SPECT business and global Technetium shortage. In H2’FY25, our two PET radiopharmacies have started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent. We expect margins to improve next year on the back of increase in revenue mix from PET radiopharmacies.

The proposed investment of US$ 50 million in PET radiopharmacy network is underway. This investment will take the overall PET radiopharmacy network to Nine (9) sites, thereby solidly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business continue to grow revenues. The business is also working to increase penetration in the outside US markets.

In FY25, Revenues grew by 3% to Rs. 701 Cr. EBITDA margins for the year stands at 35%. In line with our expectations, normalized production resumed in Q4’FY25. We anticipate outside US sales to also gradually improve.

CDMO Sterile Injectables

FY25 revenue grew by 14% to Rs. 1,272 Cr. and EBITDA grew by 52% to Rs. 292 Cr. Q4’FY25 EBITDA margins increased by 540 basis points to 28%. The capacity expansion program in Spokane, Washington, USA is on track. Media fills had been successfully completed on Line 3 and the technology transfer programs are underway. The large innovator pharma companies are now looking to create an alternate manufacturing site in the US as a risk management strategy to mitigate any potential tariff’s imposed by the US govt. In light of that, we are starting to see excellent traction in Requests for Proposals (RFPs) for Line 3 including from Big Pharma. We expect to finalise these within FY26. The commercial production on line 3 is expected to start in FY26. We also expect to reach peak utilisation for Line 3 in 3 years post start of commercial production vs 4 years, expected earlier. The Montreal facility continued operations after successful implementation of corrective and preventive actions.

CRDMO

In FY25, the Drug Discovery business revenue grew by 27% to Rs. 570 Cr. and EBITDA grew by 29% to Rs. 136 Cr. In FY25, revenue increased sharply due to increase in revenue from new contracts from large Pharma customers. We added 3 large Pharma customers during the year. We announced strategic partnership with Pierre Fabre, France to expand our footprint in Europe in areas like Biologics (mAbs) and Antibody Drug Conjugate (ADC). Overall, the medium term outlook continues to be positive on the back of the increase in large pharma clients, CDMO revenues and the addition in new capabilities.

The API business reported revenues of Rs. 581 Cr. in FY25. EBITDA grew by 39% to Rs. 87 Cr. EBITDA margins improved by 520 basis points to 15% due improved product mix, cost optimisation and higher revenue mix towards CDMO.

Generics

In FY25, the business achieved profitability and delivered EBITDA margins of 3%. The reported revenues for the year stands at Rs. 685 Cr. The success of the overall turnaround strategy was hinged on continuous quality improvement, reduction in overall cost and scaling up profitable products. Going forward, we expect to improve profitability and return to revenue growth.

We plan to launch 6 to 8 products per annum in our US and non-US international markets. We have secured approval of 7 ANDA’s in the last year. We have also acquired 2 ANDAs. In line with our plan, we are ramping up exports to the US markets in a meaningful and gradual manner. We have also started supply of products from our Contract manufacturing partners to the US market in line with our plan.

Proprietary Novel Drugs

The global clinical trials for our lead programs, Phase II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and high grade Glioma are actively enrolling patients and progressing in line with our expectations.

Started commercial distribution of PYLARIFY® from PET Radiopharmacies Successfully completed Media Fill on Line 3 in CDMO Sterile Injectables Roorkee facility gradually ramps up generics exports to the US market

1. Normalised PAT is after adjusting for exceptional items

The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter & nine months ended Dec 31, 2024.

Commenting on the Company’s performance, Mr. Shyam S Bhartia, Chairman Jubilant Pharmova and Mr. Hari S Bhartia, Co-Chairman & Non-Executive Director, said, “We are pleased to announce solid revenue growth of 9% YoY on the back of growth across all business segments. EBITDA grew by 11% YoY to Rs. 296 Cr, while reported PAT grew by 52% YoY to Rs. 101 Cr. We repaid debt of USD 125 million in the current financial year including USD 25 million in Jan’25.

In the Radiopharmacy business, we started distribution of Pylarify®, an industry leading prostate cancer diagnostic imaging agent from 2 of our PET radiopharmacies. We completed Media Fills on Line 3 in CDMO Sterile Injectables. The Drug Discovery business is driving increasing revenue from large pharma clients. We have also executed definitive agreements with Pierre Fabre to add strategic capabilities in the area of Biologics and Antibody drug conjugates. In the Generics business, we continue to focus on profitability.”

Q3’FY25 Financial Highlights

In Q3’FY25, Revenue grew by 9% on a YoY basis to Rs. 1,822 Cr. on the back of growth in revenue across all segments. EBITDA grew by 11% on a YoY basis to Rs. 296 Cr. due to improved performance in CDMO Sterile Injectables, CRDMO and Generics. Q3’FY25 normalised PAT increased by 57% on a YoY basis to Rs. 104 Cr. on the back of improved operating performance and reduced finance cost. Net debt / EBITDA improved to 1.4x as on Dec’24 from 2.5x as on Mar’24.

9M’FY25 Financial Highlights

In 9M’FY25, Revenue grew by 7% on YoY basis to Rs. 5,306 Cr. EBITDA grew by 24% on YoY basis to Rs. 873 Cr. due to improved performance in Radiopharma, CDMO Sterile Injectables, CRDMO and Generics. Normalised profit after tax increased by 106% to Rs. 277 Cr. Overall in YTD’FY25, the company has voluntarily prepaid debt of USD 125 million including the latest repayment made in Jan’25 of USD 25 million.

Segmental Business Performance

Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US

Radiopharmaceuticals Q3’FY25 revenue grew by 10% YoY to Rs. 265 Cr. Q3’FY25 EBITDA stands at Rs. 125 Cr. with EBITDA margins at 47%. The business continues to maintain a strong position in the high margin SPECT imaging product portfolio. The Ruby-Fill® installations are on track. The dosing for Phase 2 clinical trial for MIBG has been completed. Overall, the business is on track to introduce multiple new products in the medium term.

Radiopharmacy Q3’FY25 revenue grew by 13% YoY to Rs. 576 Cr. Q3’FY25 EBITDA stands at Rs. 5 Cr. In Q3’FY25, the revenues and margins got impacted by industry wide Technetium shortage. During the quarter, our two PET radiopharmacies have started distributing PYLARIFY®, which is an industry leading prostate cancer diagnostic imaging agent.

The proposed investment of US$ 50 million in PET radiopharmacy network is underway. This investment will take the overall radiopharmacy network to fifty two (52) sites, thereby solidly positioning Jubilant Pharmova’s radiopharmacy network as the second largest in the US and shall drive the future business growth.

Allergy Immunotherapy - No. 2 in the US Sub-Cutaneous allergy immunotherapy market

As the sole supplier of Venom in the US, the business is expanding the overall market by increasing customer awareness. In the US Allergenic extracts, the business plans to continue to grow revenues. The business is also working to increase penetration in the outside US markets.

In Q3’FY25, Revenues grew by 7% on YoY basis to Rs. 171 Cr. Q3’FY25 EBITDA stands at Rs. 48 Cr. Q3’FY25 EBITDA margin decreased YoY due to weakness in exports and production challenges for specific SKU’s.  Production challenges have been solved and normalized production has resumed. We anticipate outside US sales to gradually improve. We expect EBITDA margins to revert to normalised levels, starting from Q4’FY25.

CDMO Sterile Injectables

Q3’FY25 revenue is stable YoY at Rs. 306 Cr. and EBITDA grew by 38% YoY to Rs. 51 Cr. Q3’FY25 EBITDA margins increased YoY however decreased QoQ due to semi-annual shutdown. The capacity expansion program in Spokane, Washington, USA is on track. The technology transfer programs on Line 3 are underway and the media fills have been successfully completed on Line 3. The commercial production on line 3 is expected to start in late FY26 or early FY27, post FDA approvals. The Montreal facility restarted operations after successful implementation of corrective and preventive actions.

CRDMO

In Q3’FY25, the Drug Discovery business revenue grew by 32% to Rs. 150 Cr and EBITDA grew by 27% to Rs. 39 Cr. Q3’FY25 revenue increased sharply YoY due to increase in revenue from new contracts from large Pharma customers. Overall, the medium term outlook continues to be positive on the back of the increase in large pharma clients, CDMO revenues and the addition in new capabilities.

The API business reported revenues of Rs. 142 Cr., growth of 3% YoY. Q3’FY25 EBITDA stands at Rs. 20 Cr. EBITDA margins improved by 620 basis points to 14% YoY due to cost optimisation and improvement in product mix.

Generics

After becoming profitable in Q2’FY25, the business profitability improved in Q3’FY25. The success of the overall turnaround strategy was hinged on continuous quality improvement, reduction in overall cost and scaling up profitable products. Q3’FY25 revenues remained stable YoY at Rs. 200 Cr. Reported EBITDA stands at Rs. 30 Cr with EBITDA margins at 15%.

We plan to launch six to eight products per annum in our US and non-US international markets. There are 33 ANDAs in the approval pipeline for the US. We have got approval of 3 ANDA’s in the current financial year. In line with our communication, we are ramping up exports to the US markets in a meaningful and gradual manner. We have also started supply of products from our Contract manufacturing partners to the US market in line with our plan.

Proprietary Novel Drugs

The global clinical trials for our lead programs, Phase II trial for JBI -802 for Essential Thrombocythemia (ET) and other Myeloproliferative Neoplasms (MPN) and Phase I trial for JBI -778 for non-small cell lung cancer (NSCLC) and high grade Glioma are actively enrolling patients and progressing in line with our expectations.