Akums Drugs Inks Rs 1,760-Crore Pact To Make, Supply Oral Liquid Formulation To European Countries
The filing did not disclose the name of the 'large global pharma company' and said it has over $10 billion or Rs 85,203 crore in revenue.
Akums Drugs and Pharmaceutical Ltd. has signed a pact with a global pharma company under which it will manufacture and supply selected pharmaceutical formulations in European market.
Akums group will manufacture and supply multiple SKUs of oral liquid formulation to be marketed in multiple European countries by the global company, an exchange filing said.
The filing did not disclose the name of the 'large global pharma company' and said it has over $10 billion or Rs 85,203 crore in revenue.
The commercial supply of these products from Akums will commence in 2027, the filing added.
The composite value of the agreement is approx. Euro 200 million or Rs 1,760 crores approx. The approval of the site and the product dossiers is expected to be received by 2026, it said adding that Akums already has 2 of its sites (Injectable and Oral Solids) approved by European regulators.
Of the total amount, Akums will receive an upfront payment for product development and site approval from European authorities. "The project has been secured with an upfront payment of Euro 100 million (Rs 880 crores)," it said.
"With this, we will add one more dosage form in our portfolio, can be offered in European market." the filing said. "Akums already has European approved facility for tablets, hard gelatin capsules, sachets, ampoules, vials, eye-drops and dry powder injection."
