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Vivimed Labs soars after Jeedimetla facility gets Ukraine GMP approval

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Vivimed Labs surged 10.40% to Rs 18.05 after the company announced that its FDF manufacturing facility near Hyderabad was approved by the Ukraine Ministry of Health.

Vivimed Labs announced that its FDF manufacturing facility located in Jeedimetla, near Hyderabad inspected in August 2017 by the Ukraine Ministry of Health, has been approved and accredited with GMP Certification effective September 2017 and same has been renewed upto 4 February 2022 on 10 February 2021. The GMP approval extension also includes 5 new product registrations.

Ukraine is a member Country of PICS, whose members include many European Countries.

Ramesh Krishnamurthy, CEO of Vivimed Labs said: "Successful renewal of PICS GMP Certification enables Vivimed to scale up its branded product distribution in CIS Countries. Export thrust is key contributor to the growth strategy of Vivimed."

Vivimed Labs is a pharmaceutical and chemical products company. The company's segments include speciality chemicals and pharmaceuticals.

On a consolidated basis, Vivimed Labs posted a net loss of Rs 49.55 crore in Q3 FY21 as against a net loss of Rs 32.07 crore in Q3 FY20. Net sales jumped 40.6% year on year to Rs 277.94 crore in Q3 FY21.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Thu, March 04 2021. 14:00 IST
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