Granules India Ltd has signed an outsourcing agreement with Matchland Pty Ltd, (trading as New Products Development) where New Products Development agrees to outsource its finished dosage manufacturing requirement for the Australian market.

Initially five products have been identified for manufacturing and this list is expected to grow as the relationship progresses. The agreement is in the nature of the partnership where New Products Development will compensate Granules for all the costs incurred in connection with the manufacture of the product and provide a transparent profit margin. This would be New Products Development's first outsourcing agreement with any Indian company and complements the company's strategy of expansion into lesser explored markets like Australia and New Zealand.

Commenting on the deal, C Krishna Prasad, managing director said, we are planning to use our TGA approved pilot manufacturing capabilities to kick start the manufacturing as soon as possible.