The Hindu Business Line : Nicholas Piramal inks deal with hospital products co

NICHOLAS Piramal India Ltd (NPIL) expects to earn annual revenues of about $12-15 million from the manufacturing-and-supply agreement that it has inked with a global hospital-products company.

The initial revenues from the 10-year agreement will accrue to NPIL only by mid-2007, Mr N. Santhanam, Chief Financial Officer, told Business Line. The deal covers the critical-care segment, he said, unwilling to divulge other details.

After the 10-year period, the agreement will be renewed annually, he said. The products would be made at the company's Digwal facility in Andhra Pradesh in which NPIL is to invest about Rs 20 crore towards scaling it up for the hospital-products deal, he added.

This agreement represents an exclusive partnering arrangement between the two companies for certain global markets, a note from the company said. 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, the note added.

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