Jubilant Life Sciences' subsidiary has signed long-term contracts in the U.S. for supply of some of its diagnostic and therapeutic products.
In a BSE filing on Wednesday, Jubilant Life Sciences said, "Its wholly-owned subsidiary Jubilant Pharma, through one of its units, Jubilant DraxImage Montreal Canada (JDI), has signed long-term contracts with distribution networks in the U.S. for supply of products used for diagnostic and therapeutic procedures for thyroid, myocardial perfusion, lungs, kidney and bone scans to be supplied by JDI over 39 months effective January 2017."
Chairman Shyam Bhartia and Co-Chairman and Managing Director Hari Bhartia said, "These contracts provide visibility on our future revenues with differentiated and niche products in our specialty pharma business and will strengthen the company for its growth, going forward."
Following the announcement, the stock surged nearly 13 percent to Rs 717.95 on the BSE.
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