OrbiMed Pours $42.5 Million In Bulk Drug Unit Of Vivimed

OrbiMed Pours $42.5 Million In Bulk Drug Unit Of Vivimed

OrbiMed, healthcare emphasized investment firm that has recently received funding of $551 Million, has poured $42.5 Million, which is approximately (Rs 276.7 Crore), in API (active pharmaceutical ingredient) unit of Vivimed Labs Ltd.

The funding will be used by Vivimed Labs to expand the capacity of API business, optimize its capital structure, and reduce debt. Vivimed Lab’s bulk drug business is operated under the UQUIFA that was acquired in late 2011. About 60% of the total revenue and large part of operating profit is attributed to the UQUIFA, claims Vivimed.

The major factor responsible for the growth of the API business is the boost in the manufacturing organization business, better product integration, and higher market share in the portfolio.

Managing Director of Vivimeds Labs, Santosh Varalwar stated that UQUIFA is hovering to grow appreciably on the grounds of strategic programs committed investments. UQUIFA has three production facilities situated in Mexico and Spain. Its key clients include Mylan, Gilead Lifesciences, Actavis, and GlaxoSmithKline.

As the growth of the healthcare sector is drastically emerging in the Asian market, the new investment will also be done specifically in Asia healthcare industry. The main focus will be on services-oriented and growth-stage product companies based in India and China.

The third fund of OrbiMed is massive than the previous two funds, if combined. The company secured a funding of $325 Million in 2014, which is lower than its initial aim of over $500 Million. It received its first healthcare funding of $185 Million.

orbimed

The recent investment of the private equity firm in India comprises Suraksha Diagnostics, in which it pulled out a minority stake in the previous year. Last year in October, it also backed Eurolife Healthcare, a specialty pharmaceuticals company, and invested in Bharat Serums & Vaccines Ltd.

Some of the other companies in which OrbiMed has a deal include Surya Children’s Medicare Pvt. Ltd. (a mother-and child-care company), Kerala Institute of Medical Sciences (a hospital chain), and dental chain Laxmi Dental Export Pvt. Ltd.

Vivimed Labs Limited is a chemical and pharmaceutical product company. It majorly deals in specialty chemical and pharmaceuticals. The company is presently focusing formulations for generics-manufacturing and custom manufacturing engagement for APIs.

The stock of the Vivimed through bourses trade is in the gaining territory with 0.98% and per share cost of Rs 139.45 on BSE. The stock saw a traded value of Rs 673.26 Lakh and total traded quantity of 4, 82,380 shares.

Atharva Kashikar

Atharva Kashikar

Atharva is the artiest personality on the floor. When not writing blogs and articles, he engages himself in development of electronics and network gizmos. Atharva has soft corner for the computers and loves to explore about every trending technology in IT.

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