Moneycontrol
Feb 12, 2018 10:53 AM IST | Source: Moneycontrol.com

Vivimed Labs rises 3%, signs distribution pact with Ukraine-based company Alter Ego

The company is expecting revenue upwards of USD 10 million for FY19 from CIS region.

 
 
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Shares of Vivimed Labs rose 3 percent intraday Monday as company signed distribution pact with Ukraine-based company Alter Ego.

Vivimed Labs’ Unit 1 FDF manufacturing facility located in Hyderabad, post certification by Ukraine FDA, has successfully registered 8 products in anti viral, pain management and cough suppressants segment.

The company has now inked a distribution agreement with Alter Ego LLC, Kieve, Ukraine which has more than a decade of presence in Ukraine, Russia and CIS region.

The company is expecting revenue upwards of USD 10 million for FY19 from CIS region.

Sandeep Varalwar, Executive Director, Vivimed Labs said, “This agreement between Vivimed and Alter Ego is in line with company’s vision of growth in CIS markets.”

“The relationship will go a long way in establishing a robust growth in CIS markets and Vivimed will continue to add more new products to its range leveraging its strength in API manufacturing for new molecules,” he added.

At 10:40 hrs Vivimed Labs was quoting at Rs 87.40, up Rs 1.95, or 2.28 percent on the BSE.

Posted by Rakesh Patil
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