Pierre Fabre Laboratories has received a put option offer from Jubilant Biosys Innovative Research Services Pte Limited, Singapore, a division of Jubilant Biosys Limited, a fully owned subsidiary of Jubilant Pharmova Limited. The acquisition of an 80% stock part in a new firm to be founded in France is proposed in this offer, which would cost roughly 4.4 million euros over two years.
Partnership Of Jubilant Pharmova And Pierre Fabre’s French R&D Centre
This new business will take over Pierre Fabre’s R&D Center in Saint Julien, France. The possible partnership is subject to the Pierre Fabre Works Council’s approval, Pierre Fabre’s acceptance of the offer, and the completion of final agreements and customary closing requirements. After closing, the new business will work with significant biotech and pharmaceutical clients in the USA and Europe by utilising the R&D Centre.
Objectives Of The Collaboration
Through this acquisition, Jubilant Biosys hopes to improve its drug discovery skills, especially with regard to the biologics including antibody-drug conjugates.Jubilant stated that earnings from the European plant might come to between 10 and 12 million euros in the medium run. The Pierre Fabre R&D center in France is capable of doing early development and discovery work in the field of cancer treatment.
Pierre Fabre’s French R&D Centre’s Plan For Five Years
One of the biggest and most inventive pharmaceutical firms in France, Pierre Fabre Laboratories, with revenues that surpass $2 billion. They have the option to keep 20% of the new company’s equity, which would come out to almost 1.1 million euros over a two-year period. For a maximum of five years, Pierre Fabre will facilitate the R&D Center’s transformation into a stand-alone contract research organization, preventing access to any center-related intellectual property or private data. Furthermore, for the first four years, Pierre Fabre Laboratories may hire Jubilant Biosys for services up to a maximum value of seven million euros.
