"Business Personality in Focus"

 Mr Murali K Divi,
 MD, Divi's Laboratories Limited

Hyderabad: Mr. Murali K Divi who is a post graduate in Pharmaceutical Chemistry has extensive experience of over 25 years in the bulk pharmaceutical chemical industry. He started his career with Warner Lambert, Hyderabad. Later, he went to USA and worked in many organizations like Trinity Chemical Corporation, Schuyllkill Chemical Company and Fike Chemicals. He is a member of American Institute of Chemical Engineers, American Chemical Society, American Cosmetic Society and American Pharmaceutical Association.

He co-promoted Cheminor Drugs, along with Dr Reddy's chairman K Anji Reddy, before opting out to start his won company in 1990. Cheminor was later merged into Dr Reddy's, India's fifth largest company by market share.

Mr. Divi has considerable expertise in implementing and managing bulk fine chemical manufacturing facilities conforming to GMP/ US-FDA standards. He has led R&D teams and developed efficient processes for speciality chemicals, pharmaceutical intermediates, Herbicides and Rodenticides and custom synthesis.

Divi's Laboratories Limited (DLL) was originally incorporated in 1990 as Divi's Research Center Private Limited. Subsequently the name of the company was changed to Diviís Laboratories Private Limited in 1994 and was thereafter converted into a public limited company in the same year.

The Company commenced its activities in 1991 as a Research and Consultancy Organization for developing commercial processes for Active Pharmaceutical Ingredients (API) and intermediates. During 1994, the Company started manufacturing bulk drugs / intermediates. Thereafter, the Company has made several additions to its product portfolio and manufactures upto 30 products in 2000.

Some of the main products of the company include Dextromethorphan Hydrobromide, Diltiazem, CIS Lactum, Imaging Agents and other new intermediates. The company is also involved in manufacture of new intermediates for the discovery products of Multinational Pharmaceutical Companies for clinical trials / launch.

Diviís has received several awards, for its export performance, quality and R&D efforts and has been recognized as a "Trading House" by Director General of Foreign Trade, Ministry of Commerce, Government of India. It has also received certifications for ISO 9001, ISO 9002, WHO-GMP, European Certificate of Suitability (CoS) and has filed a total of 6 Drug Master Files with US FDA and the European Directorate, Germany.

The company has two research facilities. Both the Research Centers are recognized as R&D Centers by the Department of Scientific and Industrial Research (DSIR) of Government of India. Over the last 3 years, the Research Centers have evaluated more than 200 product opportunities and developed processes for more than 40 products. 25 of these products are already at commercial scale. Many of the products have been developed for the first time in the country for export to advanced countries. Due to its systematic research back-up, the companyís facility has received ISO-9001 certification.

Divi's clocked net sales of Rs 207 crore in fiscal'02, up 10% form the previous year. Net profit during the year was Rs 36.5 crore, a growth of 39%. In the first half of '2003, the company recorded net sales of Rs 114 crore and a net profit of Rs 22.6 crore.

Divi's derives around 68% of its revenues from off-patent bulk drugs - the key ingredients in any medicine - and their intermediates. Most of this is exported, primarily to US and Europe.

The initial public offering (IPO) of Divi's Laboratories  opened on February 17 and closed on February 21. At a press conference, the company announced that the IPO was a 100% book built issue. The floor price was fixed at Rs 130 a share. The issue was lead managed by Kotak Mahindra Capital Company and Invest smart India.

-Maju Kuriakose
March' 2003


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