TPI signs 3 year codeine supply contract

Company News

by Rachael Jones

TPI Enterprises (ASX:TPE) has entered into a significant multi-year supply agreement with one of Europe’s leading pharmaceutical contract manufacturing organisations.

Under the agreement TPE will ship Narcotic Raw Material from its plant in Melbourne to its Norwegian operations where it will be processed into Codeine Phosphate Active Pharmaceutical Ingredient.

The Codeine Phosphate API will then be delivered to a European manufacturing sites for conversion into finished dosage tablets.

The contract is for a 3-year term with a minimum supply of 6 tonnes per annum.

Shares in TPI Enterprises (ASX:TPE) are trading up 6.15 per cent to $1.38

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.