Bajaj Healthcare share price jumps on securing major contract manufacturing, sales & distribution of Magtein in India

Bajaj Healthcare has received exclusive rights for manufacturing, distribution & sales of the finished formulation of the Product Magnesium L Threonate (Magtein) in India from the rights holder, Threotech LLC.

Therefore, the company will have the rights to manufacture, market, distribute, and co-market magnesium L threonate (Magtein) in the Indian market.

The Company is already supplying the API Magnesium L Threonate (Magtein), to the patent holder in the United States of America.

Bajaj Healthcare supplies the API for the brand Magtein in the United States of America as an exclusive arrangement. The brand Magtein by Threotech LLC has a sales value of around $438 million.

Anil Jain, Managing Director of Bajaj Healthcare Limited, said, "Our collaboration with Threotech LLC has taken an exciting step forward after receiving licensing rights for manufacturing, marketing and selling their innovative product, Magtein, in India. With our strong domestic presence and proven manufacturing & distribution expertise, we are well-positioned to unlock the product’s full potential in the Indian market.

Bajaj Healthcare mainly focuses on the development, manufacturing, and supply of Amino Acids, Nutritional Supplements, and Active Pharmaceutical Ingredients (API) for the Pharmaceutical, Nutraceutical, and Food industries.