Divi's Laboratories Secures Major Supply Deal with Global Pharma Leader

Divi's Laboratories announced a supply agreement with a major global pharmaceutical company. The agreement will see Divi's manufacturing and providing advanced intermediates. The company forecasts significant revenue from this deal and plans to expand its facilities with an investment of Rs 650-700 crore from internal funds.

Divi's Laboratories has announced a significant supply agreement with a leading global pharmaceuticals firm. This long-term contract will entail manufacturing and supplying advanced intermediates, according to a regulatory filing by Divi's on Friday.

The company anticipates substantial revenue gains from this partnership, although it has not disclosed the name of the global partner involved in the deal.

In anticipation of increased demand, Divi's plans to expand its manufacturing capacity, investing between Rs 650 crore to Rs 700 crore. This expansion will be funded from the company's internal accruals. Shares of the company, however, traded 2.07 percent lower at Rs 5,638.35 on the BSE.

(With inputs from agencies.)