Chemicals maker Anupam Rasayan India Ltd on Monday, July 3, signed a memorandum of understanding (MoU) with 3xper Innoventure Ltd, a subsidiary of Tube Investments of India Ltd, for the supply of targeted and identified new-age pharma molecules.
The identified products for active pharmaceutical ingredients (APIs) will be developed under the CRAMS (contract research and manufacturing services) and CDMO (contract development and manufacturing organisation) models, the company said in an exchange filing.
Anand Desai, Managing Director of Anupam Rasayan, said, "This is a natural extension of our company’s capabilities built over a decade in flow chemistry to manufacture niche pharma intermediates for various key customers on a custom manufacturing model."
The MoU perfectly aligns with our strategic objective of increasing the target market for our chemistries and expanding our pharma portfolio in an accelerated manner by enhancing the product basket offerings, Desai said.
N. Govindarajan, CEO of 3xper Innoventure, said, 'This collaboration fits into our strategic imperatives to fulfil our aspirations to become the global CDMO with differentiated technology platforms to leverage and foster innovation for the customers."
Anupam Rasayan is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. It is currently manufacturing products for over 71 domestic and international customers, including 27 multinational companies.
The company operates via its six manufacturing facilities in Gujarat, India, with four facilities located at Sachin, Surat, and two located at Jhaghadia, Bharuch with an aggregate installed capacity of about 27,000 MT as of March 31, 2023.
3xper Innoventure is a pioneering new CDMO catering to global innovator companies seeking discovery, development, and manufacturing solutions in starting materials, intermediates and active ingredients.
Shares of Anupam Rasayan India Ltd ended at Rs 1,004.10, down by Rs 25.65, or 2.49 percent on the BSE.
(Edited by : Shoma Bhattacharjee)
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