Shares of Bajaj Healthcare Ltd hit 20% upper circuit on 17 January after the company announced securing exclusive licensing rights to market Magnesium L Threonate in India.

In its regulatory filing, the company said that they have secured exclusive rights from Threotech LLC to manufacture, distribute, and sell the finished formulation of Magnesium L Threonate (Magtein) in India.

Additionally, the company will gain opportunities to establish marketing partnerships with prominent pharmaceutical firms in India. Bajaj Healthcare, which already supplies the API for Magtein in the US, where the brand generates approximately USD 438 million in sales, will now expand its footprint in the Indian market.

This development further bolsters Bajaj Healthcare’s reputation as a reliable partner in the pharmaceutical sector, leveraging its robust domestic presence and manufacturing expertise to capitalize on the growing demand for Magnesium L-Threonate in India.

At 3:30 pm, the shares of Bajaj Healthcare closed 20% higher at Rs 673.85 on NSE.

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