Jubilant Ingrevia augments its CDMO presence with ~INR 270 Crore contract

Jubilant Ingrevia Limited (Company), a global integrated Life Science products and Innovative Solutions provider with over 42 years of experience offering over 165 products & innovative solutions using more than 35 key chemistry and technology platforms across its three portfolio of businesses viz Acetyls, Pyridines and Vitamins & Premixes, today announced a CDMO contract for estimated value of Rs 270 Crore in Specialty Chemicals business, spanning over a period of three years with one of its international customers, who is among the top 10 leading innovator pharmaceutical companies globally.

Through the contract the Company will supply Two key GMP intermediatesfor one of the 'patented drugs' of the Innovator Pharmaceutical customer. Both these products involve 7 steps specialised chemistry. The Company was awarded these CDMO projects few years back and with extensive work in R&D and Scale-up, it has successfully demonstrated its capability in Process development, optimisation and scaling-up of complex chemistries. Commercial supplies of both these products will start from FY'23 onwards. The Company will use GMP facility to service this contract.

Speaking on the occasion, Mr. Rajesh Srivastava, CEO & Managing Director, Jubilant Ingrevia Limited shared, "The pursuit of growth is one of the key features of our strategy. Today's announcement is in line with our strategy & commitment to grow our CDMO business of value-added GMP & Non GMP intermediates. Success of these two GMP intermediates further demonstrates our capabilities to successfully develop and commercialise cost-effective processes with excellent quality involving complex chemistries. Our CDMO project pipeline for our Pharmaceuticals & Agrochemical continues to be strong and we stay committed to further strengthen our presence in the CDMO business, through a comprehensive and planned capex."

Shares of Jubilant Ingrevia Limited was last trading in BSE at Rs. 492.00 as compared to the previous close of Rs. 498.95. The total number of shares traded during the day was 33595 in over 3469 trades.

The stock hit an intraday high of Rs. 509.00 and intraday low of 490.35. The net turnover during the day was Rs. 16723321.00.

Source : Equity Bulls

Keywords

JubilantIngrevia INE0BY001018 JUBLINGREA SpecialtyChemicals CDMOContract OrderWin