On Apr. 25, 2007, Jubilant Organosys, Ltd.  announced it had acquired Spokane-based Hollister-Stier for $122.5 million.  The plant encompassed 150,000 square feet of production space on a 20-acre campus.

Hollister-Stier Laboratories was founded by chemist Guy Hollister and Robert E. Stier, M.D. in 1921, and began partially as the result of Mrs. Hollister’s “summer cold,” which Hollister and Stier discovered was caused by grasses in the Spokane area. The two friends develope d a vaccine to help Mrs. Hollister, and the company became the leader in allergen extracts.

The new owner has pledged to keep HollisterStier and its 450 employees in Spokane, said Anthony Bonanzino, HollisterStier president and CEO. India’s Jubilant Organosys announced the cash purchase Tuesday. HollisterStier makes allergy-treatment products and has numerous contracts to make sterile injectables for pharmaceutical companies around the world.