Hikal signs 10-year deal with global pharma firm for APIs
New Delhi: Life sciences firm Hikal Ltd on Wednesday said it has signed a 10-year deal with a global pharmaceutical company for development and supply of a portfolio of niche Active Pharmaceutical Ingredients (APIs).
The company has signed a multi-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, Hikal said in a regulatory filing.
The company did not reveal the name of the global pharmaceutical firm and the value of the deal.
Hikal said the company and its customer will partner to set up a manufacturing facility to maintain security of supplies for the next 10 years.
Both the companies will jointly invest at its Panoli site in Gujarat to set up a multi-purpose manufacturing asset for manufacturing of these APIs.
Commercial supplies will commence post successful development and plant commercialisation estimated to be in FY 2024 onwards, the company added.