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Jubilant Pharmova has announced a board meeting and approved the sale and transfer of its Active Pharmaceutical Ingredients (API) business to its wholly owned subsidiary Jubilant Biosys Limited through a slump sale. The API segment accounted for Rs. 609 Cr in turnover and Rs. 666.5 Cr in net worth, representing about 8.35% and 10.68% of consolidated figures. This move aims to streamline operations by consolidating drug discovery and CDMO API businesses under Jubilant Biosys for enhanced efficiency and stronger market presence. The transaction consideration will be based on book value, mostly settled via share issuance, with completion expected by September after approvals. The API business plans to double revenues and achieve EBITDA margins above 15% by 2030 through new product launches and strategic partnerships.