Bajaj Healthcare Ltd. saw a 2% rise in its stock price after announcing a definitive Contract Development and Manufacturing Organization (CDMO) agreement with UK/EU-based companies. The deal involves the development and manufacturing of 15 new Active Pharmaceutical Ingredients (APIs), including off-patent generics and patented molecules.
This agreement adds to the company’s February 2024 contract with UK/EU clients for 15 molecules, reflecting Bajaj Healthcare’s strong focus on R&D and cost-effective API synthesis. The company is also expanding its manufacturing capabilities at its USFDA, EU, and TGA-approved facility in Vadodara, Gujarat, to support this growing pipeline.
Investors view these developments as a step forward in strengthening Bajaj Healthcare’s global presence and innovation leadership in the pharmaceutical industry.
As of 9:16 am, Bajaj Healthcare shares were trading 2.16% higher at Rs 459 on the NSE.
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