Jubilant Life inks $70-m deal with US drugmaker for over-the-counter women healthcare products

NEW DELHI: Jubilant Life Sciences, India's largest custom research and manufacturing services company, has signed a $70-million deal with a US drugmaker to manufacture over-the-counter women healthcare products.

"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 four years," the company said in a statement on Wednesday. The contract has a possibility of extension for another two years for a higher quantity, it added.

The company's American subsidiary, Jubilant HollisterStier, has begun production of the drug at its Montreal facility. "This contract is an outcome of our strategy to expand our offerings across products and geographies," Jubilant Chairman & MD Shyam Bhartia and Co-Chairman & MD Hari Bhartia said in a joint statement. Jubilant shares lost 1.28% to close at 212.35 on the BSE.