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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.
Naresh Patel, executive chairman & managing director, Ami Organics, said, “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.”
Ami Organics, based in Surat, specializes in specialty chemicals, particularly advanced pharmaceutical intermediates and generic APIs. They have developed over 520 Pharma Intermediates for APIs across 17 therapeutic areas, focusing on R&D in high-growth therapeutic domains.
On a consolidated basis, Ami Organics net profit of rose 12.05% to Rs 16.65 crore while sales rose 8.66% to Rs 142.35 crore in Q1 June 2023 over Q1 June 2022.
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