Bajaj Healthcare jumped 4.71% to Rs 396.45 after the company informed that it has entered into a development and supply agreement for an active pharmaceutical ingredient (API) with a European entity.
After the development, the API 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 the company by the EU partner for sourcing clinical trial quantities is a testimony of the companys development and manufacturing capabilities along with the good manufacturing practices (GMP) compliance at companys manufacturing units.
Based on the outcome of these trials, the supplies will be done from the companys FDA approved manufacturing facility situated at Savli, Vadodara.
Bajaj Healthcare a leading manufacturer of APIs, intermediates and formulations. It has a strong presence globally in countries like Europe, USA, Australia, Africa, Middle East and South America.
The companys standalone net profit jumped 14.1% to Rs 8.02 crore in Q1 FY25 as against 7.03 crore recorded in Q1 FY24. Revenue from operations increased 1.9% YoY to Rs 132.25 crore in Q1 FY25.
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