Monday, February 25, 2008

Jubilant bags US$ 92 million worth CRAMS contracts for 2008 calendar

Jubilant Organosys Ltd., an integrated pharmaceutical industry player and India's largest Custom Research and Manufacturing Services (CRAMS) company, has bagged new contracts worth US $92 million for its proprietary products and exclusive synthesis segment under CRAMS business for 2008.

Given Jubilant's geographical focus on the regulated markets, a large percentage of these contracts are realisable from the US, Europe and Japan. Outside the regulated markets, China is a major market for the company.

Its order book for the calendar year 2008 stands further augmented with the addition of these contracts by over 50 per cent. In addition to the annual contracts, the company also executes half yearly, quarterly and monthly contracts and spot sales. The new contracts have been signed with leading international pharma and other lifesciences companies, some of whom have been doing business with Jubilant for the past many years.

Given its experience in servicing global customers and the domain knowledge that it has built in key product areas, Jubilant has rapidly established itself as a world-class product and service provider in the CRAMS space. It has a healthy pipeline of products which are in phase III, stage of development at the customers end; and to support this it has made timely investments to expand key capacities. These contracts represent a huge opportunity for volume growth going forward for the exclusive synthesis and contract manufacturing segments under CRAMS.

Commenting on the development, Shyam S Bhartia, chairman and managing director and Hari S Bhartia, Co-chairman and managing director of Jubilant Organosys stated the substantial increment in order size that the company proves its record in delivering quality and cost-efficient outsourcing solutions to demanding, global life sciences players. Given our integrated business model we have been able to meet requirements across the value-chain for our customers. The signing of the recent agreements is expected to translate into considerable improved performance in the key Pharma and Life Sciences Products segment for 2008.

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