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GUJTHEM · price
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GTBL has entered into a definitive agreement to acquire 100% of MicroBiopharm Japan Co., Ltd. (MBJ) for JPY 21.5 billion (~INR 1,300 crore), through its wholly owned Japan-based SPV. The acquisition is expected to close in Q2 FY2027 and is EPS accretive, funded via a debt-equity mix. MBJ operates 3 GMP-compliant plants with FDA and PMDA approval track records, generates ~JPY 9.5 billion (~INR 570 crore) in FY26E revenue, and derives ~40% of revenue from outside Japan. MBJ brings fermentation capabilities, proprietary P450 enzyme platforms, plasmid DNA and ADC conjugation technologies, and long-standing relationships with top-6 global pharma customers spanning oncology, immunosuppressants, and peptides. Existing MBJ management will continue post-acquisition.
The acquisition positions GTBL as a scaled, fermentation-based globally integrated CDMO with access to regulated markets, advanced biotech platforms, and Big Pharma customer relationships. The India cost advantage provides a clear path to margin expansion on high-value products.