Procter & Gamble Health Ltd. will discontinue production of injections at its manufacturing plant in Goa and source the products from a contract manufacturer from Sept. 30.
The injections portfolio manufactured at the facility yielded a revenue of Rs 103 crore in the last financial year, constituting 8.37% of the company’s total revenue, according to an exchange filing on Wednesday.
The discontinuation will not have an impact on continuity of sale of injections as the products will be sourced from a contract manufacturer. The outsourcing decision was made with an "intent to achieve" cost efficiency and supply optimisation, it said.
The company has not disclosed the details of the contract manufacturer with which it will be collaborating.
There are many players manufacturing injections on a contract basis in India, including Gland Pharma Ltd., which is one of the largest listed injectable contract development and manufacturing players in the space.
Shares of P&G Health were trading 0.79% higher at Rs 5,012.55 per share on the BSE compared to a 0.09% advance in the benchmark Sensex at 1.12 p.m.
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