Mumbai: Nicholas Piramal India Limited, India, has signed a long-term manufacturing and supply agreement with a large global hospital products company.
The agreement is for an initial term of ten years, followed by yearly renewals. This agreement represents an exclusive partnering arrangement between the two companies for some global markets.
NPIL will manufacture and supply select hospital care products to the company. The agreement provides an avenue for addition of further products under the arrangement. NPIL will manufacture the products at its USFDA-approved facilities at Digwal, Andhra Pradesh.
Revenue from the initial set of products is expected to range between $12-15 million per annum.