August 19, 2008 / 10:42 AM / 12 years ago

Dishman close to deal with AstraZeneca, Merck-source

MUMBAI (Reuters) - Dishman Pharmaceuticals & Chemicals Ltd is close to signing contracts with U.S. Merck & Co Inc and AstraZeneca for supplying bulk drugs, a source close to the deal said on Tuesday.

“The contracts are expected to be signed in a month’s time,” the source, who declined to be named told Reuters.

Dishman already has a long-term contract manufacturing deal with Dutch Solvay for supplying bulk drugs and intermediates.

Global pharmaceutical giants are increasingly outsourcing drug manufacturing to companies in India as they seek to benefit from lower manufacturing costs here.

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