The Indian top ten leading pharmaceutical company Jubilant Organosys has achieved impressive performance in the first quarter of 2007. Its net sales increased by 20.7per cent to Rs 180.97 crore from Rs 149.90 crore. The company's net profit has taken quantum jump by 75.8 per cent to Rs 228.0 crore from Rs 129.7 crore.

The company has approved acquisition of 100 per cent stake in Hollister-Stier Labs LLC., a US-based company engaged in contract manufacture of sterile injectibles vials and producer of allergenic extracts. The acquisition is on a debt-free, cash-free basis for a purchase consideration of US$ 122.50 million in cash for the existing business and also the company will reimburse capital expenditure of US$ 16 million through 31st March, 2007 and certain cash capital expenditure until the date of closing for planned capacity expansion. The transaction is subject to customary closing conditions and necessary requisite regulatory approvals. The Board has recommended a dividend of Rs. 1.25 per equity share of Rs one, totalling to Rs 209.78 million.