New Launch24 Dec 2024, 06:06 pm
Akums Drugs and Pharmaceuticals to Manufacture and Supply Pharmaceuticals Formulations in European Market
AI Summary
Akums Drugs and Pharmaceuticals Ltd has entered into an agreement with a leading global pharma company for the manufacture and supply of selected pharmaceutical formulations in the European market. The agreement is worth approximately Euro 200 million (INR 1,760 crores). Akums will receive an upfront payment for product development and site approval from European authorities. The commercial supply of these products from Akums will commence in 2027 and continue till 2032. Akums group will also initiate European approvals of its oral liquid site for manufacturing these products.
Key Highlights
- Akums has entered into an agreement with a leading global pharma company for manufacture and supply of pharmaceuticals formulations in European market.
- The agreement is worth approximately Euro 200 million (INR 1,760 crores).
- Akums will receive an upfront payment for product development and site approval from European authorities.
- The commercial supply of these products from Akums will commence in 2027 and continue till 2032.
- Akums group will also initiate European approvals of its oral liquid site for manufacturing these products.