Page 3 - Divis Labs

Divis Labs earmarks Rs 15 bn for capex as greefield Kakinada project stalls

BS ReporterHyderabad, 29 October: Active pharmaceutical ingredients(APIs) and drug intermediates maker Divis Laboratories Limited is creating additional capacities by spending as much as Rs 15 billion at its existing facilities in the next 15 months to more than make up for the delayed green-field project plans in Kakinada.The company said it would be investing Rs 6 billion each at its Unit-2 of Vizag SEZ in Andhra Pradesh and Unit-1 of its Nalgonda SEZ in Telangana to build additional capacities besides spending another Rs 3 billion for debottlenecking of the Unit-2 in Vizag. The work of the ongoing capacity expansion is expected to be completed by the end of calendar year 2019.The company currently operates four multi-purpose manufacturing facilities out of these two sites. The management said the brown-field expansion was taken up in order to cater to the increasing opportunities in generic and big pharma business. The company is engaged in the manufacturing of key ingredients ...

Hopes keep Divi's Labs stock elevated

Street hopes for quick resolution, even as import alert impacts biz

Divis Labs surges as USFDA to lift import alert at Visakhapatnam facility

The stock surges 20% to Rs 816 on BSE in intra-day trade

Divi's Labs barred from exports to US after FDA import alert on Vizag unit

Hyderabad, 21 March:In a big setback to Hyderabad-based active pharmaceutical ingredients(APIs) maker Divis Laboratories Limited, the US Food and Drug Administration(US FDA) has issued import alert on the company's Unit 2 facility at Visakhapatnam of Andhra Pradesh, though with certain exemptions.The latest action comes after Divis management had submitted a 700-page response in the light of Form 483 observations issued by the US drug regulator in December 2016On December 7, 2016 the US FDA inspection team issued a Form 483 with 5 observations citing lack of proper control over computer systems, lack of proper maintenance of equipment and the documents at the facility. The company can not export products into the US from a site under import alert until the drug regulator reverses its action when it satisfies with the possible remedial steps taken in future.Divis' unit 2 contributes 65 percent of the company's total sales while its Unit 1 at Hyderabad accounts for the rest of the ...

Divis Labs tanks 20% after USFDA issues import alert on Vizag unit

The stock tanked 20% to Rs 635, also its 52-week low on BSE in intra-day on back of heavy volumes.

Near-term upsides capped for Divis Labs

Though the June quarter show was above expectations, the company cut margin forecast for FY17