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Vivimed Labs gets additional US$ 7.5 mn funds from OrbiMed Asia for its overseas subsidiary

Our Bureau, Mumbai
Tuesday, January 2, 2018, 15:00 Hrs  [IST]

Vivimed Labs, a Hyderabad-based pharmaceuticals & speciality chemcials company, has signed definitive agreements and received funds to facilitate additional investment of US$ 7.5 million from OrbiMed Asia, a leading healthcare investment firm,  into the company's subsidiary, Vivimed Labs (Mascarene) Ltd, the holding entity of the company's API business. Earlier, OrbiMed invested $42.5 million in September 2017.

Santosh Varalwar, managing director, said, “Vivimed welcomes the additional follow on investment by OrbiMed Asia and this reiterates the confidence of the investor in the Vivimed Business model in he dynamic health care industry. The additional funds will fuel its growth opportunities overall.”

Saurabh Gurnurkar, executive director, Uquifa added, “The proceeds of this additional investment will be utilised todrive business growth and, increase the company's profitability by organic and inorganic growth opportunities.

 

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