Pharmaceutical and life sciences company Jubilant Life Sciences Ltd today announced the signing of a contract manufacturing agreement between its US subsidiary Jubilant HollisterStier and a leading US pharmaceutical firm for production of over-the-counter women's healthcare product.
Jubilant, the largest custom research and manufacturing company in India, said the "take or pay" contract, with a minimum quantity commitment, has a total value of over $70 million. The contract is currently for a period of over four years and may be extended for another two years for a higher quantity.
Jubilant HollisterStier's manufacturing facility in Montreal, Canada has already started production of the product under the agreement, Jubilant said in a release.
"This contract is an outcome of our strategy to expand our offerings across products and geographies. We are happy to extend our CMO services for an OTC women health product with a leading customer in North America. Over the years we have successfully helped provide safe and effective products to consumers and are committed to do so for this product as well," Shyam S Bhartia, chairman and managing director and Hari S Bhartia, co-chairman and managing director, Jubilant Life Sciences Ltd, said.
Jubilant HollisterStier facility in Montreal manufactures global quality OCL (ointment, creams liquid) products as well as sterile liquid and lyophilized products.
With 10 world-class manufacturing facilities and a team of 5800 employees across 75 countries, Jubilant Life Sciences manufactures and distributes life sciences products and services across the value chain. The company is a "partner of choice" to leading life sciences companies worldwide.
It had revenues of $770 million in the 2011 financial year (2010-11).