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Hikal inks 10-year multi-product deal for APIs

Wednesday, 05 May 2021
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Hikal has signed a 10-year deal with a global pharmaceutical company for development and supply of a portfolio of niche active pharmaceutical ingredients (APIs).

The company has signed a 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 company did not reveal the name of the global pharmaceutical firm and the value of the deal. Hikal and its customer will partner to set up a manufacturing facility to maintain security of supplies for the next 10 years.

Both the companies will jointly invest at its Panoli site in Gujarat to set up a multi-purpose manufacturing asset for manufacturing of these APIs. Commercial supplies will commence post successful development and plant commercialisation estimated to be in FY24 onwards.

 

 
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