The company has signed a multi-year contract with a leading global pharmaceutical company. Heikal said in an organizational file that this contract entails the development and supply of a set of specialized APIs over a period of 10 years.
The company did not disclose the name of the global pharmaceutical company and the value of the deal.
Heikal said the company and its customer would jointly set up a manufacturing facility to keep supplies secure for the next 10 years.
Both companies will jointly invest in their Panoli site in Gujarat to create a multi-purpose manufacturing asset for manufacturing these APIs.
The company added that commercial supplies would commence after the successful development and commercialization of the plant, which is expected in fiscal year 2024 onwards.