Jubilant Pharma Acquires US Radiopharmacy Business Of Triad Isotopes

Global pharmaceutical company Jubilant Life Sciences Ltd on Saturday (2 September) has announced that it’s wholly owned subsidiary Jubilant Pharma Ltd (JPL) has completed the acquisition of US radiopharmacy business of Triad Isotopes, Inc.

This acquisition is funded through JPL’s internal accruals with no increase in debt for Jubilant Life Sciences Ltd.

Triad recorded revenues in excess of $225 million in calendar year 2016 with positive earnings before interest, tax, depreciation and amortization (EBITDA) and the acquisition is likely to be earnings accretive.

The acquired radiopharmacies will continue to operate independently under the brand name of ‘Triad Isotopes’.

Shyam S Bhartia, Chairman, and Hari S Bhartia, Co-Chairman and Managing Director, said “The acquisition adds significant scale to our niche Radiopharmaceutical business in the Specialty Pharma - Injectibles segment complementing our strategy of being a leading nuclear medicine player. Triad has an experienced management team, customer focus and strong relationships with GPOs in the United States, which allows us to directly serve customers through hospitals with high quality radiopharmaceutical products. We plan to expand the sales coverage to better and more optimally serve patients, physicians, imaging centers and hospitals, going forward.”

The company informed in an official statement, “The acquisition is a strategic fit to our niche nuclear medicine business and will provide Jubilant with direct access to hospital networks with ability to deliver more than 3 Million patient doses annually through approximately 1,700 customers.”

The company intends to maintain and expand Triad’s distribution network.