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Jubilant HollisterStier to Host Groundbreaking Ceremony for $92 Million Expansion

Posted On : 2021-11-13 19:37:54( TIMEZONE : IST )

Jubilant HollisterStier to Host Groundbreaking Ceremony for $92 Million Expansion

Jubilant HollisterStier LLC, a pharmaceutical contract manufacturer that is part of Jubilant Pharma Limited, announced plans to host a groundbreaking ceremony on Wednesday, November 17, 2021 at 11:00 am PT at their Spokane, Washington facility. The 50,000 square foot expansion will house a high-speed filling line and lyophilizers, which will increase the facility's sterile injectable capacity by 50%.

"Based on our trajectory analysis of the sterile injectable market, as well as ongoing conversations with existing partners, there is need to add capacity at our existing facility," said Amit Arora, President, Jubilant HollisterStier. "The pandemic has fortified our commitment to being ready to quickly support the innovative pharmaceutical partners we work with, whose drugs play an instrumental role in saving the lives of many."

"Continuous improvements and growth are at the core of our values at Jubilant. That is why we are very pleased to make this investment of US$92Mn approx. in a state-of-the-art filling machine that features the highest degree of quality and compliance to meet current regulatory standards and service our customer's need even better" stated Pramod Yadav, CEO Jubilant Pharma Limited.

The new filling line will be commercially available by the end of 2024. Jubilant HollisterStier has already begun filling the 250 new roles created to support this expansion and is actively recruiting at this time.

Shares of Jubilant Pharmova Limited was last trading in BSE at Rs. 612.60 as compared to the previous close of Rs. 619.30. The total number of shares traded during the day was 4248 in over 471 trades.

The stock hit an intraday high of Rs. 620.80 and intraday low of 611.00. The net turnover during the day was Rs. 2616885.00.

Source : Equity Bulls


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