New Delhi, India, May 26, 2014—IFC,
a member of the World Bank Group, is lending $147.5 million to Jubilant
Pharma Limited to enable better access to quality and affordable pharmaceuticals
in underserved markets in India and across the world. Jubilant Pharma,
a wholly owned subsidiary of Jubilant Life Sciences Limited, is incorporated
in Singapore, with manufacturing operations in India, USA, and Canada.
Of the total financing package, $110 million is from IFC’s own account.
The remaining $37.5 million is from IFC’s Managed Co-Lending Portfolio
Program, which provides additional long-term financing through co-financing
partners. The loan will help Jubilant Life Sciences increase focus on the
pharmaceutical sector and strengthen its generic drug manufacturing facilities
"We consider IFC a long-term partner with significant healthcare expertise
across emerging markets. IFC’s contribution goes beyond financing. IFC
will also help us strengthen our quality assurance and risk mitigation
mechanisms and make the company systems more robust,” said Shyam S. Bhartia,
Chairman and Managing Director, Jubilant Life Sciences. “IFC’s long-term
financing package will consolidate our entire pharmaceuticals business
under Jubilant Pharma and build global competitiveness.”
Jubilant Life Sciences is a pharmaceutical and life sciences company engaged
in the manufacture and supply of active pharmaceutical ingredients, generics,
specialty pharmaceuticals, and life science ingredients. It provides services
in contract manufacturing and drug discovery and development.
“Health is a priority sector for IFC in India. There is an urgent need
to expand access to affordable and quality healthcare, especially among
low-income communities,” said Vipul Prakash, Director – Manufacturing,
Agribusiness and Services, Asia Pacific, IFC. “This investment will contribute
towards making the Indian pharmaceuticals sector globally competitive,
and improve access to affordable medicines to a wider population.”
IFC is the world’s largest multilateral investor in the private health
care sector in emerging markets, having provided financing of over $2.2
billion to 164 private health care and life sciences projects in 53 countries.
IFC-supported health projects treat about 12 million patients annually.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in more than 100 countries, we use our capital, expertise,
and influence to help eliminate extreme poverty and promote shared prosperity.
In FY13, our investments climbed to an all-time high of nearly $25 billion,
leveraging the power of the private sector to create jobs and tackle the
world’s most pressing development challenges. For more information, visit