New Delhi, Jun 18 (PTI) Welcure Drugs & Pharmaceuticals on Wednesday said it has executed a definitive mandate for third-party sourcing and procurement services aggregating to Rs 517 crore with Thailand-based Fortune Sagar Impex Company.

Welcure Drugs & Pharmaceuticals Ltd will engage in sourcing and procurement of multiple finished-dosage SKUs, the company stated in an exchange filing.

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Built on a fee-based model, the company will earn a fixed 5 per cent commission on the cost of goods, the filing stated.

The estimated service income of Rs 25.85 crore is expected for FY 2025-26, substantially adding to Welcure's revenue.

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The mandate enhances Welcure's fee-based portfolio without incremental balance-sheet exposure, making this a high-margin growth opportunity for the company, the filing stated.

The Thailand-based firm will be responsible for packaging, labelling, containerisation, insurance, freight and all destination-country regulatory clearances.

Shares of the company rose by 5 per cent to hit the upper limit at Rs 13.74 after the announcement.

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