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Jubilant Life Sciences Ltd announced on Wednesday that its subsidiary, Jubilant HollisterStier, a contract manufacturer in North America has entered into a multi year contract with a US pharma company to manufacture over the counter (OTC) women health and personal care product. The product will be manufactured at Jubilant's Montreal facility in North America.
This is a “take or pay” contract with a minimum quantity commitment and has a total value of over $ 70 million for a period of over 4 years with a possibility of extension for another 2 years for a higher quantity. The production of the product under this agreement started earlier this month.
Commenting on the development, Mr. Shyam S Bhartia, Chairman & Managing Director said, “This contract is an outcome of our strategy to expand our offerings across products and geographies. We are happy to extend our CMO services for an OTC women health product with a leading customer in North America. Over the years we have successfully helped provide safe and effective products to consumers and are committed to do so for this product as well. ”
Jubilant HollisterStier facility in Montreal manufactures global quality OCL (ointment, creams liquid) products as well as sterile liquid and lyophilized products.
In August Jubilant Life Sciences had signed a $80 million long-term supply agreement in proprietary products business with a leading international life sciences company.
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