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Nicholas' pact with U.S. firm

By Our Staff Reporter

NEW DELHI DEC. 9. Nicholas Piramal India Ltd (NPIL) has signed an agreement with the U.S.-based Advanced Medical Optics (AVO), a global leader in ophthalmic surgical devices and eye care products, for manufacturing and supplying selected components for latter's eye care products.

Announcing this here today, the NPIL Chairman, Ajay Piramal, said the company would become a major supplier to AMO of its various products that would be distributed all over the world. "For manufacturing these products, we have already set-up a state-of-the-art formulations facility at Pithampur in Madhya Pradesh, with exports anticipated to begin in early 2005.''

Stating that NPIL was expecting an annual income of $15-25 million from this deal, Mr. Piramal said, "NPIL has declared its strategic intent of partnering with leading healthcare and pharmaceutical companies for their global supplies."

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