Bajaj Healthcare Secures API Development Deal with European Partner

23 Sep 2024 , 01:18 PM

Bajaj Healthcare Ltd. announced a new development and supply agreement for an Active Pharmaceutical Ingredient (API) with a European partner on September 23. The agreement involves supplying the API in small quantities initially for clinical trials related to an alternative indication.

Following successful trials, the API will be supplied from Bajaj Healthcare’s FDA-approved manufacturing facility located in Vadodara, Gujarat.

At the time of writing on September 23, 2024, at 01:16 pm, Bajaj Healthcare Ltd stock is trading at ₹391.40, reflecting a 3.44% gain from the previous closing price. Over the past year, Bajaj Healthcare Ltd stock has witnessed a 18% dip, and it has gained 3.89% since the beginning of the current year.

The company highlighted that this partnership reflects its strong development and manufacturing capabilities, as well as adherence to Good Manufacturing Practices (GMP).

This agreement follows Bajaj Healthcare’s earlier collaborations, where it signed definitive Contract Manufacturing Organization (CMO) agreements for the supply of 15 APIs to clients in the UK and the EU.

The strategic partnership aims to enhance Bajaj Healthcare’s presence in the European pharmaceutical market. The company is positioning itself as a reliable source for quality API production, aligning with global industry standards.

This collaboration underscores Bajaj Healthcare’s commitment to expanding its portfolio and strengthening its international relationships in the pharmaceutical sector.