Vivimed acquires Hungarian firm Soneas

Vivimed Labs Limited, a pharmaceuticals and specialty chemicals company, has agreed to acquire Soneas through its API arm UQUIFA.

Soneas is Budapest-based contract development and manufacturing organization (CDMO) with reported revenues of 12.2 million euro for FY17. While UQUIFA, a subsidiary of Vivimed Labs Spain S.L, has three USFDA approved manufacturing facilities across Spain and Mexico which cater to the global market. This acquisition expands UQUIFA's portfolio in the CDMO sector by providing it the ability to undertake pre-clinical, phase I, 11 and III projects.

Recently, Orbimed Asia III Mauritius Limited invested US$50 million. The company plans to invest the funds to expand capacity in the API businesses.

Vivimed Labs is engaged in the business of supplying niche molecules and formulations to healthcare, pharmaceutical and specialty chemical companies, globally. The company's business segments are active pharmaceutical ingredient (API), Branded formulation (FDF) and speciality chemical.

Meanwhile, the stock of Vivimed Labs was quoting Rs. 68.15 per share, up by 3.26 per cent at 12:11 hours on Wednesday.