Lupin introduces liberal ESOP package

EPP News Bureau - Mumbai

Lupin Limited has granted options for 401411 shares, amounting to one per cent of its equity for its Employee Stock Option Plan (ESOP), stated a press release. Over 175 managers in Lupin would be eligible for ESOPs under this plan. The vesting price has been decided at Rs 567.35.

According to Dr Desh Bandhu Gupta, chairman, Lupin Limited, this is among the most liberal ESOP packages to be announced by a pharma major and has among the widest coverage.

‘‘I firmly believe that as the pharma industry in India globalises, the biggest asset that any company has is the quality of its human capital. Companies need to attract and retain top quality talent from around the world, in order to maintain their competitiveness. ESOPs, have been proven as among the best tools available to give employees a sense of ownership and reward outstanding performance,’’ Dr Gupta said.

‘‘We are a research driven organisation, targeting one billion USD of sales by 2009. We can only achieve this if we have a committed set of individuals working for the company,’’ Dr Gupta said.