Jubilant inks $80 mn contract with global firm

August 12th, 2011 - 10:40 pm ICT by IANS  

New Delhi, Aug 12 (IANS) Pharmaceutical company Jubilant Life Sciences Friday said that it has entered into a long term supply contract of proprietary products with an international life sciences company valued at $80 million.

The company did not divulge the name of its international customer.

“The total contract is valued at over $80 million to be supplied in three years from the quarter April -June 2012,” the company said in a statement.

According to the statement, the contract has a minimum volume ‘take or pay’ commitment with an opportunity to go over $ 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 company further said that it continues to see strong growth in the proprietary products segment and expects to sign a few more contracts during the year.

Currently, the company provides life sciences products and services across different sectors.

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