By: ICN Bureau
Last updated : May 05, 2021 9:32 am
The company and its customer will be jointly investing at its Panoli, Gujarat site to set up a multipurpose manufacturing asset for manufacturing of these API’s
Hikal Ltd., a preferred long-term partner for leading global life sciences companies, today announced that they have signed a 10-year contract with a leading global pharmaceutical company.
This contract entails the development and supply of a portfolio of niche APIs over a period of 10 years. The development will start this year and commercial supplies will commence post successful development and plant commercialisation estimated to be in FY 2024 onwards. With this deal, Hikal is entering into a niche area of chemistry and products thereby bolstering its animal health vertical.
Hikal and its customer will be jointly investing at its Panoli, Gujarat site to set up a multipurpose manufacturing asset for manufacturing of these API’s.
Commenting on this development, Sameer Hiremath, CEO, Hikal said, “Hikal and our customer will be partnering in setting up a manufacturing facility to maintain security of supplies for the next ten years. We are seeing multiple opportunities from several new and existing customers who are looking to diversify and de-risk their existing supply chain.”
Hikal is a reliable long-term partner to companies in the pharmaceuticals, crop protection, and specialty chemicals industry. The company is in the business of supplying research services, active ingredients and intermediates, manufactured using stringent global quality standards, for its global customers. Hikal’s advanced manufacturing facilities have been inspected and approved by leading multinational companies in the crop protection and pharmaceutical sectors.
The crop protection facilities are located at Taloja and Mahad (Maharashtra) and R&D facilities are located in Pune. The pharmaceutical manufacturing facilities are situated in Jigani (Bengaluru) and Panoli (Gujarat).