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Divi's Laboratories on Friday informed that it has entered into a long-term manufacturing and supply agreement with a global pharmaceutical company. The agreement focuses on the manufacturing and supply of advanced intermediates, a key area for Divi's Laboratories' custom synthesis business. According to a regulatory filing with the exchange, the agreement is international in scope and is expected to contribute to the company's revenue.
Although the name of the partner and other details have been kept confidential due to confidentiality agreement, Divi's Labs has confirmed that the deal is significant. To support new partnerships and future growth, Divi's Laboratories plans to invest between Rs 650 crore and Rs 700 crore in capacity expansion at its existing manufacturing facilities. The investment will be funded from internal sources.
Will help in expansion The company said that this agreement will benefit customers through assured supply and will help Divi's Labs further expand its presence in the custom synthesis market. Share performance The company's stock closed 2.29 per cent lower at Rs 5,622 on Thursday. In the last one year, the company's stock has seen a gain of 51.58 per cent.
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