Drugs and chemicals maker Jubilant Organosys Limited has informed that it has acquired 100% stake in Specialty Molecules Limited, a niche manufacturer of Specialty Intermediates with manufacturing facilities located at Ambarnath near Mumbai, for Rs 19.95 crore.

The acquired company is engaged in the business of developing, manufacturing and selling of specialty intermediates, which include primarily pyridine derivatives that are used in pharmaceuticals and other life science industry.

The acquisition will strengthen company’s ability to provide comprehensive offering of pyridine derivatives to the customers in life science industry, Jubilant Organosys said in a statement.

Jubilant Organosys has registered sharp drop in its standalone net profit at Rs 57.10 crore for the quarter ended March 2008 compared to Rs 69.60 crore in the same quarter previous year. The company informed that the 17.96% was due to pressure on operating margins and higher depreciation cost.