Jubilant Pharmova is jubilant!

Yesterday after market hours, Jubilant Pharmova announced that, Jubilant HollisterStier LLC (‘JHS’) has received a communication from the USFDA, through which the regulatory agency intimated that pursuant to its audit of JHS’s contract manufacturing facility located at Spokane, Washington (USA) from May 28,2024 to June 6, 2024, it has determined the inspection classification of the facility as “Voluntary Action Indicated”.

Jubilant HollisterStier LLC is a subsidiary of Jubilant Pharma Holding Inc., which is a subsidiary of Jubilant Pharma Limited, Singapore, a wholly owned subsidiary of the company. JHS is an integrated contract manufacturer of sterile injectables (both liquid and lyophilization), ampoules and ophthalmics (Ointment, liquid and creams). With facilities in North America, it provides specialized manufacturing for the pharmaceutical and biopharmaceutical industries. The services include a full-range of support to streamline the manufacturing processes, from process qualifications through commercial release.

The stock price is jubilant too! From its close of Rs.1017.30, the stock today opened at Rs.1042.70 and went on to hit a new life-time high today at Rs.1060.15. The stock is currently trading at Rs.1023.