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Hikal enters into multi-year contract with a leading global pharma company

Capital Market 

To develop and supply portfolio of niche APIs over a period of 10 years

Hikal has signed multi-year contract with a leading global pharmaceutical company. This contract entails the development and supply of a portfolio of niche APIs over a period of 10 years. The development will start this year and commercial supplies will commence post successful development and plant commercialisation estimated to be in FY 2024 onwards.

With this deal, Hikal is entering into a niche area of chemistry and products thereby bolstering its Animal Health vertical. Hikal and its customer will be jointly investing at its Panoli, Gujarat site to setup a multipurpose manufacturing asset for manufacturing of these API's.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, May 05 2021. 09:05 IST