Granules India signs agreement with Matchland Pty Ltd

Granules India Ltd has announced that Matchland Pty Ltd, (trading as New Products Development) and the Company are announce the signing of an Outsourcing Agreement where New Products Development agrees to outsource its finished dosage manufacturing requirement to the Company for the Australian market.

Initially five products have been identified for manufacturing and this list is expected to grow as the relationship progresses. The agreement is in the nature of the partnership where New Products Development will compensate the Company for all the costs incurred in connection with the manufacture of the product and provide a transparent profit margin. This would be New Products Development’s first Outsourcing Agreement with any Indian Company and complements the Company's strategy of expansion into lesser explored markets like Australia and New Zealand.

Commenting on the deal, Mr. C Krishna Prasad, Managing Director said, we are planning to use our TGA approved pilot manufacturing capabilities to kickstart the manufacturing as soon as possible.

Source : Equity Bulls

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