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Jubilant Organosys signs international contracts worth US$ 60 million in CRAMS for the year 2007
Posted On : 2007-03-20 05:02:54( TIMEZONE : IST )
Jubilant Organosys Ltd has announced that the Company, India's largest Custom Research and Manufacturing Services (CRAMS) Company, has recently added annual contracts worth US $60 million to its Order book.
These contracts, which form part of the Company's order book for the calendar year 2007, have been finalized with some of the leading global life sciences Companies. A substantial portion of these contracts - $US 54 million is attributable to the regulated markets of USA and Europe, which have been the focus area of growth for the Company. In addition to these annual contracts, the Company as part of its normal business also executes half yearly, quarterly and monthly contracts and spot sales.
With India emerging as a cost competitive outsourcing base for global majors the Company is the preferred partner for Custom Research and Manufacturing to global leaders in the pharmaceuticals and agrochemicals industry.
The Company has a strong intellectual knowledge base and proven capabilities to develop cost efficient solutions, particularly in the life sciences segment. These contracts stand testament to the Company's ability to demonstrate strong growth in the targeted (regulated) market areas.
Commenting on the development, Shyam S Bhartia, Chairman & Managing Director and Hari S Bhartia, Co-Chairman & Managing Director of the Company said:
"The addition of these annual contracts re-affirms our global position in CRAMS. Going forward, we will continue to focus on our twin strategies of investments in innovation and world-class manufacturing facilities, as key competitive differentiators.
Currently, we are in advanced talks with several other global life sciences Companies and are confident of signing several other contracts for CRAMS over the next few months."
Over the last two years, the Company has invested close to Rs 200 crore on augmenting its manufacturing capabilities and strengthening its R&D backbone in Customs Research and Manufacturing.
