Jubilant Pharmova gains most in over two years after Canadian-arm gets loan for capacity expansion

The project is aimed at upgrading the company's Montreal facility and to

The expansion project of 40,000 square feet facility will result in a modern sterile manufacturing site, offering a wide range of fill and finish capabilities with flexibility in dose forms and batch sizes.

Equipment at the facility will comprise high-speed vial filling with an isolator barrier system, freeze drying, and a flex line capable of handling syringes, vials, and cartridges.

The project will help strengthen the eco-system and place Canada in a better position to meet its future needs of vaccines and treatments for potential pandemics.

"The funding will enable our continued efforts to expand our capabilities in Canada and create more jobs," the company said,

Jubilant Pharmova is an integrated global pharmaceutical company engaged in manufacturing and supply of Radiopharmaceuticals with a network of 46 radio-pharmacies in the US, and five manufacturing facilities that cater to all the regulated market including the United States, Europe and other geographies.

Jubilant Pharmova's shares are trading 10.1 percent higher at Rs 305.90. This is the best single-day gain for the stock in over two years.