Orchid signs R&D deal with Pfizer

Orchid Chemicals has signed a long-term Master Research & Development agreement with Pfizer International, LLC.

Pharmaceutical major Orchid Chemicals & Pharmaceuticals Ltd said on Thursday that it has signed a long-term Master Research & Development agreement with Pfizer International, LLC.

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Orchd Chem informed the stock exchanges that it would provide research and development services to Pfizer's animal health business as per the agreement, which is for a period of seven years and renewable thereafter.

Under the agreement new products and services would be provided from time to time and the services would be provided out of Orchid Chem's facilities in India.

The two companies are currently evaluating products and specific R&D services to be undertaken.