Akums Drugs has signed an agreement with a leading global pharma company for ‘strategic collaboration’. Under this, Acums Drugs will supply selected oral liquid formulations to this global company. After the announcement of this deal on December 24, there was an initial rise in the company’s shares, but later they fell by more than 2%. At the end of trading, the company’s shares closed at Rs 595.60 with a decline of 0.33 percent.
The composite value of this CDMO agreement is approximately Rs 1,760 crore (20 crore Euro) and a down payment of Rs 880 crore has also been made under this project. Sanjeev Jain, Managing Director of Acums, said, ‘This will open doors for us to expand our reach in the regulated market and the success of domestic CDMOs will be replicated at the global level.
According to the statement issued in this regard, commercial supply of these formulations through AKMS will start in 2027 and will continue till 2032. Acmes Drugs will also begin the process for approval from Europe for its oral formulations manufacturing site. Acmes Group will receive immediate payment from the authorities for product development and site approval.
Under this agreement, Acmes will supply ‘globally renowned brands’ of oral liquid formulations, which will be marketed across Europe by a multinational pharma company. Acums has not disclosed any further details regarding the client or the product. However, he said that the revenue of this unit is more than 10 billion dollars.