The announcement was made during trading hours today, 7 September 2011.
Meanwhile, the BSE Sensex was up 209.46 points, or 1.24%, to 17,072.27.
On BSE, 1.19 lakh shares were traded in the counter compared with average volume of 19,000 shares over the past two weeks.
The stock hit a high of Rs 200.70 and a low of Rs 193 so far during the day.
Jubilant Life Sciences said the drug, a generic equivalent of Wyeth's Protonix, would be marketed by the company's US subsidiary Jubilant Cadista Pharmaceuticals Inc under its own label.
As on March 2011, the total sales of pantoprazole sodium tablets in the US were over $1.46 billion. Pantoprazole sodium tablets are indicated for the short-term treatment of erosive esophagitis associated with gastro esophageal reflux disease.
On a consolidated basis, Jubilant Life Sciences' net profit rose 52.9% to Rs 77.12 crore on 15.5% increase in net sales to Rs 944.29 crore in Q1 June 2011 over Q1 June 2010.
Jubilant Life Sciences is an integrated pharmaceutical and life sciences company. It is the largest custom research and manufacturing services (CRAMS) player and a leading drug discovery and development solution (DDDS) provider out of India. The company provides life sciences products and services across the value chain.