Vivimed's Uquifa expects Euro 200 mn revenues in 4 yrs

: Uquifa, the Active Pharma Ingredients (API) business division of Vivimed Labs Limited, expects to garner 200 million Euros revenue in the next four years by banking on the expansion of existing facilities in Spain and Mexico, a senior official of Uquifa said here today.

Uquifa, which currently has four manufacturing facilities- two in Spain and one each in Mexico and Hungary - did business of about 110 million Euros last year and expects it to go up to 135 million to 140 million Euros this fiscal, said Saurabh Gurnurkar, Executive Director of Uquifa.

"Uquifa contributes about 60 per cent to the top line of Vivimed. Last year Uquifa did about 110 million Euros. We expect it to go up to 200 million Euros in the next four years.

We are also investing 6-7 million Euros on capacity expansion this year. The investment on capex will go on," Gurnurkar said.

He said most pharma companies in developed countries are now looking to source raw material from Europe as many units in China are being closed due to a variety of reasons.

The city-based Vivimed acquired Spanish firm Uquifa in 2011 for USD 55 million.

Uquifa has three US FDA inspected and approved sites.

Big global drug makers such as GSK, Mylan, Gilead Lifesciences and Apotex are some of the key clients of the company.

Uquifa recently raised USD 50 million, partly to retire the debt of Vivimed and partly for acquisition of Hungary based Soneas, a contract development and manufacturing organisation, Gurnurkar added.