Genpharmasec Limited has entered into a super stockist agreement with Amneal Healthcare Private Limited (AHPL), as disclosed in a regulatory filing pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Agreement Details
The agreement appoints Genpharmasec as a non-exclusive super stockist within a specified territory to distribute products manufactured by AHPL and its third-party contract manufacturers or licensors to wholesale and retail pharmacists.
Financial Commitment
AHPL has committed to provide Genpharmasec with a minimum annual sales commitment of approximately ₹75 crores for each calendar year during the term of the agreement.
Management Commentary
Mr. Rajesh Sadhwani, Promoter and Director of Genpharmasec Limited, commented that this agreement represents a key step in expanding the company's market presence and strengthening distribution capabilities. He noted that the collaboration will enable Genpharmasec to offer a wider range of healthcare products to customers and expressed confidence in the partnership's potential for sustained growth and mutual success.
Company Background
Genpharmasec Limited was incorporated in 1992 and initially operated as a manufacturer and trader of organic and inorganic chemicals, dyes and pigments. Since 2018, the company has shifted its business activities to buying, selling, and distribution of pharmaceutical, medicinal, and medicated preparations.
The company has an existing distribution agreement with Abbott Point of Care Corporation INC, USA for distribution of their i-STAT 1 Analyzer, a hand-held blood analyzer used in ICUs and ICCUs of hospitals. The company supplies these analyzers to distributors across India who then supply to government and private hospitals.
Counterparty Information
Amneal Healthcare Private Limited is part of Amneal Pharmaceuticals, Inc. (NASDAQ: AMRY), a fully integrated U.S.-based global leader in essential medicines. The company has invested over $300 million in capital and acquisitions in India over the past 15 years and launched commercial operations in India in late 2022 focused on providing innovative, high-quality specialty medicines.
Disclaimer
The document includes standard forward-looking statement disclaimer noting that actual results may differ from expressed or implied statements due to changes in industry structure, political and economic environment, tax laws, import duties, litigation, and labor relations.