Shyam S. Bhartia is pursuing his MNC dreams with a vengeance. Last week, the Chairman & Managing Director of the Rs 1,610-crore Jubilant Organosys snapped up Canada’s Draxis Health for $225 million (Rs 900 crore) to bolster his group’s presence in the lucrative North America region. “Draxis represents a unique opportunity in the North American market, offering Jubilant entry into the attractive, regulated, high growth and high-margin radiopharmaceutical business,” says 55-year-old Bhartia.
Jubilant, which has a leading presence in pharmaceuticals, agrochemicals, construction, food & beverages, textiles, tyres and paper & packaging, is already one of country’s largest players in the Custom Research and Manufacturing Services (CRAMS) segment; so what was the rationale behind this latest acquisition? “Draxis brings along Sestamibi; a high-margin radiopharmaceutical (a radioactive compound used as tracer in the diagnosis and treatment of diseases) used in the cardiac-imaging market,” says Bhartia, adding: “The second attraction is Draxis’s multi-year $120-million (Rs 480-crore) contract for supplying multiple non-sterile specialty semi-solid products to Johnson & Johnson.”
Name: Shyam S. Bhartia
Designation: Chairman & MD
Company: Jubilant Organosys
— Manu Kaushik