Jubilant Organosys has signed a long term contract in CRAMS business with a leading US life sciences company. The total contract is valued at $51 million, according to a stock exchange announcement. Further, Jubilant Organosys is in discussions to increase the contract to more than 2.5 times, it added.
The product under the contract is based on the in-house developed technology, integrated with captively produced raw material resulting in competitive advantage both in terms of cost of production and capital investment.
Shares of Jubilant Organosys gained more than six per cent on the Bombay Stock Exchange (BSE) during the afternoon session. At 3pm, the shares were trading at Rs 353, up Rs 21.45.
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