Noida, Friday, August 12, 2011
Jubilant Signs a Long Term Supply Agreement for a New Product
Jubilant Life Sciences Ltd, an integrated pharmaceutical industry player and the largest Custom Research and Manufacturing Services Company in India, announced today, that it has signed a long term supply agreement in Proprietary Products business with a leading international Life Sciences company. The total contract is valued at over US$ 80 mn to be supplied in 3 years from the quarter April –June 2012. This contract has a minimum volume ‘take or pay’ commitment and has an opportunity to go over US$ 100 mn. This product has a huge demand in the market which is vindicated by the release of advance payment by the customer on the signing of the contract.
The product under this contract is based on an in-house developed technology, integrated with captively produced raw material resulting in competitive advantage both in terms of cost of production and capital investment.
The management is pleased to announce this long term contract with a leading international Life Sciences Company. The Company continues to see strong traction in the Proprietary Products business and expects to sign a few more contracts during the year which will further drive the momentum in revenues and profitability.
About Jubilant
Jubilant Life Sciences Limited, is an integrated Pharma and Life Sciences Company. It is the largest Custom Research and Manufacturing Services (CRAMS) player and a leading Drug Discovery and Development Solution (DDDS) provider out of India. The Company provides Life Sciences products and services across the value chain. With 10 world-class manufacturing facilities and a team of over 5800, multicultural people across the globe, the Company is committed to deliver value to its customers spread across 75 countries. The Company is well recognized as a ‘Partner of Choice’ by leading life sciences companies worldwide.www.jubl.com
For more information please contact:
For Investors
Nidhi Aggarwal
Jubilant Life Sciences Limited
E-mail: nidhi_aggarwal@jubl.com
Siddharth Rangnekar
Citigate Dewe Rogerson
E-mail: siddharth@cdr-india.com
For Media
Seema Ahuja
Jubilant Life Sciences Limited
E-mail: seema_ahuja@jubl.com
For Business Queries
Rajesh Srivastava
Jubilant Life Sciences Limited
Email: rajesh_srivastava@jubl.com