Indoco to supply Rs 50-cr worth diabetic tablets in Germany

MUMBAI: Phara firm Indoco today said it would supply Rs 50-crore worth Metformin, anti-diabetic, tablets per annum to Germany for two years towards the AOK tender.

AOK, Allgemeine Ortskrankenkassen, is Germany's biggest health insurance company, rendering services in medical care for over 10 decades.

"Metformin is one of the top selling products in Germany, in terms of volume. This order marks a milestone achievement in Indoco's endeavour to propel the international business to higher altitude," Indoco Remedies's Chairman and Managing Director, Suresh G Kare said in a release.

Indoco commenced supplies of finished formulation to Germany in 2005. The company has a turn over of USD 100-million and employs 3,000 people in 35 countries.