You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Vivimed Labs soars after Jeedimetla facility gets Ukraine GMP approval

Capital Market 

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.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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