Anupam Rasayan shares rise 6% on $265 million deal with Japanese company

Anupam Rasayan shares rose 6% after the Indian specialty chemical firm signed an LoI worth $265m with a Japanese peer for a new life science active ingredient. The supply of the product will begin after the validation process, lasting about 18 months. According to Anand Desai, MD of Anupam Rasayan, the company is "fully backward integrated for this molecule" and can provide its customers with "supply chain assurance" without being reliant on other sources of supply. The new customer diversifies Anupam Rasayan's client base, which already includes Japanese multinationals and Indian chemical manufacturers as customers.