Aurobindo Pharma Unit Inks Pact with MSD for Biologics Manufacturing
By Rediff Money Desk, New Delhi May 31, 2024 20:45
Aurobindo Pharma's TheraNym Biologics has signed a contract with MSD to set up a plant for contract manufacturing operations for biologicals, investing Rs 1,000 crore.
New Delhi, May 31 (PTI) Aurobindo Pharma on Friday said its unit TheraNym Biologics has inked a pact with MSD to set up a plant as it looks to enter the contract manufacturing operations for biologicals.
TheraNym Biologics, a wholly-owned subsidiary of Aurobindo Pharma and an affiliate of CuraTeQ, has inked a Master Service Agreement (MSA) with MSD effective today.
As part of the arrangement, Theranym will invest around Rs 1,000 crore for establishing manufacturing facility with capacity of up to 25-30 million vials per annum, the Hyderabad-based drug firm said in a regulatory filing.
TheraNym will build the manufacturing facility, manufacture the products and supply to MSD as per the arrangement, it added.
Last year in October, CuraTeQ Biologics and Merck Sharp & Dohme Singapore Trading Pte Ltd and its affiliates (MSD) had signed a letter of intent for contract manufacturing operations for biologicals, whereby the parties intended to conclude the negotiations by March 31, 2024.
The partes later extended the deadline till May 31.
TheraNym Biologics, a wholly-owned subsidiary of Aurobindo Pharma and an affiliate of CuraTeQ, has inked a Master Service Agreement (MSA) with MSD effective today.
As part of the arrangement, Theranym will invest around Rs 1,000 crore for establishing manufacturing facility with capacity of up to 25-30 million vials per annum, the Hyderabad-based drug firm said in a regulatory filing.
TheraNym will build the manufacturing facility, manufacture the products and supply to MSD as per the arrangement, it added.
Last year in October, CuraTeQ Biologics and Merck Sharp & Dohme Singapore Trading Pte Ltd and its affiliates (MSD) had signed a letter of intent for contract manufacturing operations for biologicals, whereby the parties intended to conclude the negotiations by March 31, 2024.
The partes later extended the deadline till May 31.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Thinkink Picturez
- 1.94 (+ 4.86)
- 69820171
- Rajnish Wellness
- 1.78 (+ 4.09)
- 54627483
- G G Engineering
- 1.80 (+ 1.12)
- 53423097
- GTL Infrastructure
- 2.32 ( 0.00)
- 34510899
- Vodafone Idea L
- 8.10 ( -0.25)
- 34418651
MORE NEWS
Brookfield India REIT Raises Rs 3,500 Cr via QIP
Brookfield India REIT launches a Qualified Institutional Placement (QIP) issue to raise...
Rajasthan Tourism Potential: Inclusive...
Union minister Gajendra Singh Shekhawat highlights Rajasthan's tourism potential,...
India Airlines: 809 Hoax Bomb Threats in 5 Years
Airlines in India faced 809 hoax bomb threats in the last five years, with a surge in...