Remedium Lifecare said that it has received a multi-year supply contract from Aster Biotech, a pharmaceutical distribution company based in the United Kingdom.
The contract involves the supply of various active pharmaceutical ingredients (APIs), intermediates, and specialty chemicals. The supplies scheduled between July 2024 and June 2025 alone are valued at Rs 175 crore.
Remedium Lifecare is a pharmaceutical company aligned across two business verticals viz. products and services. The company's Products business comprises trading and sale of APIs and intermediates to innovator and generic pharmaceutical players in both domestic and international markets including the regulated markets.
The company had reported a net loss of Rs 53.72 crore in the quarter ended March 2024 as against net loss of Rs 4.78 crore during the previous quarter ended March 2023. Sales surged to Rs 1408.49 crore in Q4 FY24 from Rs 75.58 crore in Q4 FY23.
The scrip shed 0.06% to currently trade at Rs 66.99 on the BSE.
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