Divi's Laboratories signs long-term manufacturing and supply agreement with global pharma company

Divi's Laboratories Limited has announced the signing of long-term manufacturing and supply agreement with a global pharma company for manufacturing and supply of advanced intermediates.

Under the long-term agreement, the Company will be manufacturing and supplying advanced intermediates as per the commercial terms agreed between the parties.

The Company expects meaningful revenue contribution from this long-term agreement.

In view of the confidentiality agreement signed, we are not permitted to disclose name of customer and any quantitative information pertaining to the agreement.

There is no upfront payment involved in this agreement.

The Company is planning for capacity addition at its manufacturing facilities with an estimated investment between ₹650 crores to ₹700 crores, to be funded from internal accruals.

The Agreement will benefit the customer of assured supply and the Company to expand its presence in custom synthesis.

Shares of Divi's Laboratories Limited was last trading in BSE at Rs. 5638.35 as compared to the previous close of Rs. 5757.50. The total number of shares traded during the day was 20847 in over 2520 trades.

The stock hit an intraday high of Rs. 5795.75 and intraday low of 5592.70. The net turnover during the day was Rs. 118826408.00.

Source : Equity Bulls

Keywords

DivisLaboratories INE361B01024 Pharmaceuticals Longterm Manufacturing Supply Agreement GlobalPharmaCompany AdvancedIntermediates