| The company will establish the facility with the objective of supporting GRZ national health programs and enhancing local production capabilities in Zambia. The facility, in the future, also plans to export to neighboring countries including, but not limited to, Zimbabwe, Namibia, Botswana, Malawi, Tanzania, Mozambique. This project shall be implemented through incorporation of a new joint venture company in Zambia in which Akums will be a majority partner owning 51% stake and a nominated Zambian state instrumentality owning 49% stake. The facility is expected to commence manufacturing in 2028. The facility plans to manufacture general oral solids, liquids, injectables as well as beta-lactam products. Both the JV partners will jointly invest in the facility and commercial operations in ratio of their respective shareholding. Further, until such time as the manufacturing facility will be established and becomes operational, the GRZ, through its state instrumentality, shall purchase medicines from the joint venture company having a minimum aggregate value of $ 50 million over 2 years in 2026 and 2027, i.e. $25 million annually, which will be manufactured and supplied from Akums and/or its subsidiaries' facilities in India. The JV is expected to be established before the year end 2025. In furtherance of this collaboration, the company has agreed to provide its proprietary technology, know-how, and technical expertise to the JV, and the parties intend to enter into a separate technology transfer agreement. Akums Drugs and Pharmaceuticals is a pharmaceutical contract development and manufacturing organization (CDMO) offering a comprehensive range of pharmaceutical products and services in India and overseas. The company's consolidated net profit increased 5.5% to Rs 63.48 crore in Q1 FY26, compared with Rs 60.17 crore in Q1 FY25. Net sales inched up 0.5% YoY to Rs 1024.03 crore in Q1 FY26. The scrip shed 0.15% to end at Rs 480.55 on the BSE. Powered by Capital Market - Live News |