Bajaj Healthcare soared 13.41% to Rs 637.25 after the company said that it has received exclusive rights for manufacturing, distribution & sales of the finished formulation of the product magnesium L Threonate (Magtein) in India from Threotech LLC.
The company will have the rights to manufacture, market, distribute, co-market in the Indian market for Magnesium L Threonate (Magtein). The company is already supplying the API Magnesium L Threonate (Magtein), to the patent holder in United States of America.The brand Magtein by Threotech LLC has a sales value of approximately $438 million.
Anil Jain, managing director, Bajaj Healthcare, said, Our collaboration with Threotech LLC has taken an exciting step forward after receiving licensing rights for manufacturing, marketing and selling their innovative product, Magtein, in India. With our strong domestic presence and proven manufacturing & distribution expertise, we are well-positioned to unlock the products full potential in the Indian market. This development reaffirms our position as a trusted partner to our international clients and underscores our ability to seamlessly integrate manufacturing & quality excellence with strategic market outreach.
Bajaj Healthcare a leading manufacturer of APIs, intermediates and formulations. It has a strong presence globally in countries like Europe, USA, Australia, Africa, Middle East and South America.
Bajaj Healthcare reported standalone net profit of Rs 94.64 crore in Q2 FY25 as compared with net loss of Rs 34.60 crore in Q2 FY24. Revenue from operations jumped 31.5% YoY to Rs 133.08 crore in Q2 FY25.
The counter hit an all-time high at Rs 655 in intraday today,
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
