Financial Daily from THE HINDU group of publications
Wednesday, Apr 09, 2003
Financial Daily from THE HINDU group of publications Wednesday, Apr 09, 2003 |
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Corporate
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Announcements Sterling Biotech bags Rs 22.5-cr orders from US Our Bureau
MUMBAI, April 8 STERLING Biotech has bagged two export orders worth Rs 22.5 crore from US-based healthcare companies to supply gelatin. One order is a Rs 12.5-crore export order from the GNC group, a speciality retailer of vitamin, mineral, herbal supplements. The other is a Rs 10-crore order from Cardinal Healthcare Inc. The company had bagged an order of Rs 5.5 crore from Cardinal early this year. According to a company release, both the orders are expected to be completed in the current fiscal. Mr Nitin Sandesars, Chairman, Sterling Biotech, said: "We are confident of expanding our market in the European Union countries too since we have obtained the European Directorate of Quality Medicines Certification (EDQOM)." The company has set up a unit to manufacture gelatin in Vadodara in collaboration with UK-based Croda Colloids. Gelatin is used in the making of hard and soft shell capsules, vitamin encapsulation and tablet binding in the pharmaceutical industry.
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