Bajaj Healthcare inks pact with European Entity

23 Sep 2024 , 03:06 PM

Bajaj Healthcare Ltd. stated on Monday, September 23, that it has signed a development and supply agreement for an Active Pharmaceutical Ingredient (API) with a European organisation.

Following the development, the API will be delivered in modest quantities to the European Partner, who will utilise it to conduct clinical trials for an alternative indication.

Based on the results of these trials, the APIs will be supplied from the company’s FDA-approved production facility in Vadodara, Gujarat.

The EU partner’s trust in our company for sourcing clinical trial numbers demonstrates the company’s development and manufacturing skills, as well as Good Manufacturing Practices compliance at its manufacturing locations, according to a Bajaj Healthcare statement.

Earlier this year, Bajaj Healthcare secured formal CMO agreements with customers in the United Kingdom and the European Union to deliver 15 APIs. 

Bajaj Healthcare is a top manufacturer of APIs, intermediates, and formulations. It has a major global presence in nations such as Europe, the United States, Australia, Africa, the Middle East, and South America. The company’s standalone net profit grew 14.1% to ₹8.02 Crore in Q1 FY25, compared to ₹7.03 Crore in Q1 FY24.

At around 2.42 PM, Bajaj Healthcare was trading 3.83% higher at ₹392.90, against the previous close of ₹378.40, respectively. The counter touched an intraday high and low of ₹404.0, and ₹371.10, respectively.

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