Jupiter Bio sets eye on acquisitions in US, Europe

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Hyderabad, Mar 30: As part of its acquisition plans, Jupiter Bioscience is all set for a fund raising programme in the next three months.

The company is seeking close to $25 million for two acquisitions planned in the US and European market, which is expected to close by the end of this year.

Speaking to FE, Venkat R Kalavakolanu, CMD, said the proposed acquisitions will help the company enter the regulated markets faster.

“The cost of acquiring two companies, one each in the US and Europe, is estimated about $15 million. The due diligence is currently on and we hope to close both the deals by October-November,’’ he said.

Meanwhile, the company announced that it is acquiring a manufacturing facility of Merck Life Sciences, Switzerland. However, the cost of the acquisition was not disclosed.