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VAV Life Sciences invests Rs.15 crore to expand capacity for lipids used in Covid-19 vaccines

Our Bureau, Mumbai
Wednesday, November 24, 2021, 16:10 Hrs  [IST]

Mumbai-based VAV Life Sciences, through its subsidiary VAV Lipids, has announced it has invested Rs.15 crore (US$ 2 million) to boost production capacity to meet the unprecedented overseas demand for lipidic ingredients.
 
These lipids are highly specialized biomolecules that are produced in small quantities and are used in the production of Covid-19 vaccines and other medicines for treating a variety of conditions like cancer and heart disease.
 
VAV is the only Indian and fourth global producer of highly purified lipids that are approved for use in novel drug delivery systems (NDDS). The nanotechnology research-based biopharmaceutical company is now undertaking a major expansion project at its EU GMP certified site based in Ratnagiri in the state of Maharashtra, India. On completion the expanded facility will produce about 6 times its current volume, thereby increasing lipid production to meet about 40% of global demand.
 
The new capacity which would be operational from June 2022 will boost VAV’s sales by about 3.5 times to reach Rs. 45 crore (USD 6 million) by 2023. According to the company, the value and volume may look small but is sufficient to meet the current and anticipated global demand of the future.
 
Speaking about the expansion, Arun Kedia, managing director VAV said, “The Covid-19 pandemic and mucormycosis (black fungus) infections, as well as the rising incidence of cancer or genetic diseases, has brought lipids under the limelight. There was an unprecedented surge in demand for these biomolecule lipids, which led to supply distress in India and globally. Since VAV is the only Indian company that makes these specialized lipids, we accepted the challenge to immediately ramp up production to meet the demand.”
 
According to the company, the project is funded by internal accruals and EXIM Bank debt. VAV has been identified by EXIM bank under their ‘Ubharte Sitaare’ programme as a potential company for investment and was recognised by the finance minister, Nirmala Sitharaman, at a conference hosted by the bank in August at Lucknow, India.

 

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