Jubilant Pharmova gains as its arm inks pact with US Government to expand critical vaccine manufacturing capacity
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Jubilant Pharmova is currently trading at Rs. 405.95, up by 1.65 points or 0.41% from its previous closing of Rs. 404.30 on the BSE.
The scrip opened at Rs. 407.00 and has touched a high and low of Rs. 414.40 and Rs. 405.00 respectively. So far 4466 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 905.00 on 28-May-2021 and a 52 week low of Rs. 384.30 on 26-May-2022.
Last one week high and low of the scrip stood at Rs. 424.95 and Rs. 384.30 respectively. The current market cap of the company is Rs. 6513.01 crore.
The promoters holding in the company stood at 50.68%, while Institutions and Non-Institutions held 24.08% and 25.25% respectively.
Jubilant Pharmova’s step down subsidiary -- Jubilant HollisterStier LLC, (JHS) a leading US-based pharmaceutical contract manufacturer has entered into a cooperative agreement for $149.6 million with the Army Contracting Command, in coordination with the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (JPEO-CBRND) on behalf of the Biomedical Advanced Research and Development Authority (BARDA), within the US Department of Health and Human Services.
The effort was funded under the American Rescue Plan, this agreement will enable the Company to double its injectable filling production capacity at a total cost of $193 million, at its Spokane, Washington manufacturing facility. This will be completed by 2025. This agreement is in addition to the $92 million filling line expansion announced in November 2021, which will be commercially available by the end of 2024.
Jubilant Pharmova (formerly Jubilant Life Sciences) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses.
