Mumbai-headquartered drug maker Bliss GVS Pharma Ltd on Tuesday announced that the company’s Kenyan arm has won a three year contract worth $111.40 million (around Rs 760 crore).

“Bliss GVS Healthcare Ltd, the Kenyan step down subsidiary of Bliss GVS Pharma Ltd, has won a three year contract worth US$ 111.40 million from Aon Kenya Insurance Brokers Ltd, for provision of Medical Healthcare Services in Kenya,” said a company filing.

According to the company, the contract covers outpatient services for over 3,04,060 members, and will be managed by AON Kenya.

“This medical cover provides for dental, optical on an outpatient basis and for maternity. Service payments will be received by the company from AON, in advance, on a quarterly basis. Part payment for first quarter payment has been received by the company,” the filing added.

Bliss GVS Pharma is engaged in developing, manufacturing and marketing pharmaceutical formulations.

Shares of the company surged more than 4% to touch Rs 125.80 on BSE after the news came in. At 2.46 pm, the Re 1 face value shares were trading at Rs 124.25, up 3.97% from the previous closing of Rs 119.50.

The small-cap company has an equity capital of Rs 10.31 crore and a market capitalization of Rs 1,280.57 crore.

here is company details.

 

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