Will use funds to augment capacity, reduce debt: Vivimed Labs

Name: Will use funds to augment capacity, reduce debt: Vivimed Labs
Uploaded: 2017-09-29T12:16:19+05:30
Description: Healthcare firm Orbimed Asia will invest USD 42.5 million in Vivimed Labs's subsidiary UQUIFA. In an interview to CNBC-TV18, Santosh Varalwar, CMD of Vivimed Labs spoke at length about the same.

Healthcare firm Orbimed Asia will invest USD 42.5 million in Vivimed Labs's subsidiary UQUIFA. In an interview to CNBC-TV18, Santosh Varalwar, CMD of Vivimed Labs spoke at length about the same.

October 04, 2017 / 16:37 IST

Healthcare firm Orbimed Asia will invest USD 42.5 million in Vivimed Labs' subsidiary UQUIFA.

In an interview to CNBC-TV18, Santosh Varalwar, CMD of Vivimed Labs spoke at length about the same.

Had bought stake in the active pharmaceutical ingredients (API) subsidiary five years ago, said Varalwar.

He further said that API subsidiary is an important part of the company.

"We have manufacturing facilities in Europe and Latin America and we wanted some growth fund for this and Orbimed Asia decided to put some funds," he mentioned.

Primary usage of funds is to augment capacity, he said.

Will also use funds from deal to reduce debt, Varalwar added.

Watch accompanying video for more details.

first published: Sep 29, 2017 12:16 pm

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