Vivimed Labs is aiming to take advantage of global market potential for formulations post its acquisition of Spain-based active pharmaceutical ingredients maker, Uquifa. The company will facilitate Uquifa's active pharmaceutical ingredients' capacity, which will complement its formulations business with cost competitiveness.
Through shifting Uquifa's pharma ingredients production to India the Hyderabad-based company is going for backward integration. Its API facilities coming up at pharma special economic zone at Visakhaptanam and Bidar in Karnataka will help the company in formulations. Another plant to make finished dosages is also being set up exclusively for regulated markets at Choutuppal.
The combined investment in these plants is about Rs 190 crore. All of them should begin production by end of next financial year. The company expects to double its turnover to Rs 1,000 crore by end of next financial year with an equal share of specialty chemicals and pharmaceuticals in revenue.
