Employees and whole-time directors of Hyderabad-based pharma company Divis Laboratories will get a one-time payment of Rs 79 crore in total on the occasion of completion of 25 years of formation of the company.
This one-time payment was approved by the company’s board on Friday. Established in 1990, Divis Laboratories employs about 10,000 personnel.
The company manufactures active pharmaceutical ingredients (APIs) and intermediates. APIs are substances used in the manufacture of drug (medicinal) products.
Divis Laboratories, whose first-quarter earnings were exceeding the expectations and market estimates.
Net profit rose 23 per cent to Rs 301 crore on 25 per cent growth in sales to Rs 1,006 crore.
Divis Laboratories said that the special payment of Rs 79 crore will be reflected in its September quarter numbers.
The Rs.3,800 crore pharma company, has established strong presence in export markets and its exports contributed over 88 per cent to its consolidated net sales during 2015-16. The company now has four multi-purpose manufacturing facilities in Andhra Pradesh and Telangana and three research centres at Hyderabad, Choutuppal and Vizag.
The company has triple certifications ISO-9001, ISO 14001 and OHSAS-18001 for its manufacturing facilities. It has a total 41 drug master files with US FDA and 199 DMFs and 20 CoS with various European Union authorities. It has filed a total of 31 patents for generic products.