On Monday, the share price of one of the world’s top 5 manufacturers of semi-synthetic penicillins jumped 3.6 percent on BSE to Rs. 1,229.3, after the company announced the expansion of biologics manufacturing facilities and entered into contract manufacturing operations (CMO) for biologicals.
With a market capitalisation of Rs. 71,033.34 crore, at 12:48 p.m., the shares of Aurobindo Pharma Limited were trading in the green at Rs. 1,212.3, up by 2.13 percent, compared to its previous closing price of Rs. 1,187.
Aurobindo Pharma Limited informed the stock exchanges about the signing of a Master Service Agreement (MSA) for the expansion of biologics manufacturing facilities of TheraNym Biologics Private Limited.
TheraNym Biologics Private Limited, a wholly-owned subsidiary of Aurobindo and an affiliate of CuraTeQ Biologics Private Limited (a wholly-owned subsidiary of Aurobindo Pharma), signed an agreement with Merck Sharpe & Dohme Singapore Trading Pte. Ltd. (MSD) and its affiliates.
As per the arrangement, TheraNym will build the manufacturing facility, manufacture the products and supply to MSD.
Further, Theranym will also invest around Rs. 1,000 crores for establishing a manufacturing facility with large-scale bioreactors for any mammalian cell culture product and a vial filling isolator line for commercial drug product manufacturing up to 25-30 million vials per annum.
According to the 11th October 2023 regulatory filings, CuraTeQ proposes to serve the US-based biopharmaceutical company through its contract manufacturing subsidiary, TheraNym Biologics Pvt Ltd.
The manufacturing facility will house large-scale bioreactors for mammalian cell culture drug substance manufacturing and will include a vial filling isolator line for commercial drug product manufacturing.
In terms of financials, the company’s total revenue from operations grew by 3.1 percent YoY from Rs. 6,473 crore in Q4 FY22-23 to Rs. 7,580 crore in Q4 FY23-24, accompanied by an increase in the net profit of 79.6 percent YoY from Rs. 506 crore to Rs. 909 crore, during the same period.
Founded in 1986, Aurobindo Pharma Limited develops, manufactures, and commercialises a wide range of branded speciality pharmaceuticals, generic pharmaceuticals and active pharmaceutical ingredients globally in more than 150 countries.
Written by Shivani Singh
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