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Vivimed soars on signing definitive agreements to acquire SONEAS

  • May-16-2018
  • 14 Hrs IST

Vivimed Labs is currently trading at Rs. 67.50, up by 1.50 points or 2.27% from its previous closing of Rs. 66.00 on the BSE.

The scrip opened at Rs. 66.55 and has touched a high and low of Rs. 68.80 and Rs. 65.80 respectively. So far 79066 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 153.30 on 21-Sep-2017 and a 52 week low of Rs. 65.75 on 14-May-2018.

Last one week high and low of the scrip stood at Rs. 70.30 and Rs. 65.75 respectively. The current market cap of the company is Rs. 559.51 crore.

The promoters holding in the company stood at 36.64%, while Institutions and Non-Institutions held 5.66% and 57.71% respectively.

Vivimed Labs Spain S.L, the parent of UQUIFA S.A, has signed definitive agreements to facilitate the acquisition of SONEAS, a Budapest (Hungary) head quartered CDMO company, focussed on the Innovator Pharmaceutical and Fine Chemical sectors. The business has been acquired from Lochlomond and Euroventures which are both based out of Hungary.

The acquisition broadens UQUIFA’s market offering in the CDMO space by enhancing its ability to now undertake preclinical, phase I, II and III NCE project development. These projects can then also potentially feed into UQUIFA’s existing cGMP inspected and approved manufacturing facilities in Spain and Mexico, creating a high-value project pipeline.

Vivimed Labs is engaged in providing specialty chemicals and pharmaceuticals products. The company offers products for oral care, sun care, skin care, hair care, reversacol photochromic dyes, imaging chemicals and nisarg.