Ami Organics and Fermion ink another Multi-Million Dollar agreement for Additional Advanced Pharmaceutical Intermediate

Ami Organics Limited (BSE: 543349, NSE: AMIORG) a leading global manufacturer of advanced pharmaceutical intermediates and speciality chemicals, has signed another definitive multi-year, multi-tonne agreement with Fermion, a fully owned subsidiary of Orion Corporation, Finland. As part of the agreement, Ami Organics will supply an additional advanced pharmaceutical intermediate to Fermion.

Based on the supply projection shared by Fermion, the total minimum contract value is expected to be multi-million Dollar, spread across multi-year horizon. The product is expected to start contributing meaningfully to the revenue from FY25.

Ami Organics had signed its first agreement with Fermion in November 2022 for supply of an advanced pharmaceutical intermediate. This agreement is in addition to previous agreement and further increases the total value of the CDMO contract with Fermion.

Commenting on development, Mr. Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited, said: "! am delighted to extend this partnership with Fermion, appreciating the confidence they have placed in our dedication and excellence. This new agreement marks a significant stride forward in our collaboration. Our ongoing discussions with all our customers centre around delivering more value-added products and this agreement is testimony to our shared objectives. |am confident that we will continue to have quality dialogue with Fermion and other valued customers, paving the way for further opportunities to strengthen our relationships in the future."

Shares of Ami Organics Ltd was last trading in BSE at Rs. 1280.25 as compared to the previous close of Rs. 1283.85. The total number of shares traded during the day was 8221 in over 872 trades.

The stock hit an intraday high of Rs. 1305.20 and intraday low of 1271.90. The net turnover during the day was Rs. 10586843.00.

Source : Equity Bulls

Keywords

AmiOrganics OrderWin Agreement Fermion