 "Bajaj Healthcare share hits 52-wk high on inking CDMO deal for 15 new APIs")
Bajaj Healthcare share price: Pharmaceutical company Bajaj Healthcare shares were buzzing in trade on Tuesday, December 10, 2024, as the scrip rose up to 3.91 per cent to hit a fresh 52-week high of Rs 466.30 per share.
The rise in the Bajaj Healthcare share came after the company announced that it has entered into a definitive contract development and manufacturing organisation (CDMO) contract with UK/EU based companies for 15 new active pharmaceutical ingredients (APIs).
The new CDMO pipeline has a mix of, off Patent Generic APIs as well as APIs which are still under patent, the company revealed.
In an exchange filing, Bajaj Healthcare said, “We are pleased to inform the exchanges about the Company entering into a definitive CDMO contract with UK/EU based companies for 15 new APIs. This is in addition to 15 molecules for which we entered the contract with UK/EU based clients on February 27, 2024.”
“We are delighted to share this development which reinforces the capabilities that we are building in terms of cost-effective route of synthesis in our research and development (R&D) and the expansion of manufacturing capabilities, mostly at our United States Food and Drug Administration (USFDA), European Union (EU) and now Therapeutic Goods Administration (TGA), Australia approved site located in Vadodara, Gujarat. The company is likely to enter into few CDMO deals with clients in Australia, New Zealand and South Africa, after the approval of the site by the TGA,” said Anil Jain, managing director, Bajaj Healthcare.
About Bajaj Healthcare
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Bajaj Healthcare, an Indian pharmaceutical company, specialises in the development, manufacturing, and supply of active pharmaceutical ingredients (APIs), nutritional supplements, and amino acids.
Its diverse portfolio caters to the pharmaceutical, nutraceutical, and food industries, offering APIs such as ascorbic acid, citicoline sodium, carbamazepine, and theobromine.
The company also manufactures branded and generic formulations, including products like Cellin 500, Septran DS Tablet, and Vitajaj C tablets.
Founded in 1993, Bajaj Healthcare has grown steadily, becoming a public company in 2005 and listing its shares on Indian stock exchanges in 2016.
Headquartered in Thane, Maharashtra, the company operates state-of-the-art manufacturing facilities in Gujarat and Maharashtra, which include three API plants and a formulation division unit in Manjusar, Vadodara.
The market capitalisation of Bajaj Healthcare is Rs 1,249.24 crore, according to BSE. The 52-week range of Bajaj Healthcare stock is Rs 265-466.30.
At 10:52 AM, Bajaj Healthcare shares were trading 0.87 per cent higher at Rs 452.65 per share. In comparison, BSE Sensex was trading 0.05 per cent higher at 81,546.15 levels.