India's Jubilant eyes U.S. drug firm Cambrex-paper
MUMBAI, June 17 (Reuters) - Indian drug maker Jubilant
Organosys Ltd. (JUBO.BO: Quote, Profile, Research) could
bid more than $500 million for New Jersey-based drug
firm Cambrex Corp. (CBM.N: Quote, Profile, Research),
the Economic Times newspaper reported on Friday.
Jubilant, which had raised $200 million in convertible
bonds for expansion and acquisition in April, may raise
another $125 million, the paper said.
Officials at Jubilant could not be immediately reached
for comment.
Loss-ridden Cambrex, which focuses on drug discovery and
therapeutical applications, had a revenue of about $450
million and was one among four or five targets listed by
Merrill Lynch & Co. (MER.N: Quote, Profile, Research),
the paper said.
Cambrex had in February retained Bear Stearns & Co Inc.
to act as adviser to consider strategic alternatives.
