Vivimed Labs’ (VLL) board has approved to sell its stake in 50:50 JV with Strides. This step is aimed towards augmenting management focus on the growing FDF portfolio across India, RoW and CIS markets.
It is also going to improve financial flexibility for the domestic finished dosage business and reduction of long term leverage in the Indian operations. Consequently, VLL will sell balance 50% stake in Vivimed Life Sciences, India to Strides Pharma Science and the balance 50% stake in Strides Vivimed, Singapore to Strides Pharma Global, Singapore.
Vivimed Labs is engaged in providing specialty chemicals and pharmaceuticals products. The company offers products for oral care, sun care, skin care, hair care, reversacol photochromic dyes, imaging chemicals and nisarg.
