 "Vivimed arm Klar Sehen divests certain products to Ordain Healthcare for Rs 73 cr")
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Klar Sehen Pvt Ltd, a wholly owned subsidiary of the Hyderabad-based integrated pharmaceuticals company Vivimed Labs Ltd, has sold certain products along with their associated trademarks to Ordain Healthcare Global Pvt Ltd, a subsidiary of Spain-based Chemo Espana S A. The total consideration for the identified product lines is Rs 73 crore.
Further, as part of the transaction, Klar Sehen will provide contract manufacturing services for the divested products to Ordain Healthcare for an agreed period of time from its two plants located at Hyderabad and Kolkata.
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Santosh Varalwar, managing director, Vivimed Labs, said, “This is a very important strategic development at Vivimed. As part of our strategy, the company has exited from the branded formulations in ophthalmology and will continue to focus on CMO and US generic business. Furthermore, this transaction will also provide us enhanced financial flexibility by further reducing debt as we transition into the next phase of growth.”
Klar Sehen, two German words meaning ‘clear vision’, focusses on ophthalmology as its core competence, with also presence in other therapeutic segments such as ENT, paediatrics, gynaecology and broad-based general medicine.
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