Bajaj Healthcare has entered into a development and supply agreement for for an Active Pharmaceutical Ingredient (API) with a European Entity.
In an exchange filing, the company announced on Friday that this API after its development will be initially supplied in small quantities and will be used by the EU partner to carry out clinical trials for an alternative indication.
“The trust reposed in our Company by the EU partner for sourcing clinical trial quantities is a testimony of the Company’s development and manufacturing capabilities along with the Good Manufacturing Practices (GMP) compliance at Company’s manufacturing units. Based on the outcome of these trials, the supplies will be done from the Company’s FDA approved manufacturing facility situated at Savli, Vadodara,” the company revealed in its exchange filing.
Till the outcome of these trials, it will be revenue neutral, the company announced.
