Jubilant Ingrevia bags CDMO contract worth Rs 270cr

Jubilant Ingrevia, an Indian chemicals company, has bagged a contract development and manufacturing company (CDMO) contract with an estimated value of INR 270 crores for its specialty chemicals business.

The contract is spread over a period of three years with an international customer, who is said to be among the top 10 innovator pharma companies in the world.

Through the contract, Jubilant Ingrevia will be supplying a couple of key GMP intermediates for one of the ‘patented drugs’ of the innovator pharmaceutical customer.

Both the products involve seven steps specialized chemistry, said the Noida-based chemicals company.

Jubilant Ingrevia had won the CDMO projects a few years back and with extensive work in research and development and scale-up.

The company said that the commercial supplies of the two products will begin from FY’23 onwards for which it will use its GMP facility to service this contract.

Rajesh Srivastava — CEO and Managing Director of Jubilant Ingrevia said: “The pursuit of growth is one of the key features of our strategy. Today’s announcement is in line with our strategy & commitment to grow our CDMO business of value-added GMP & Non GMP intermediates.

“Success of these two GMP intermediates further demonstrates our capabilities to successfully develop and commercialize cost-effective processes with excellent quality involving complex chemistries. Our CDMO project pipeline for our Pharmaceuticals & Agrochemical continues to be strong and we stay committed to further strengthen our presence in the CDMO business, through a comprehensive and planned capex.”