The practice of outsourcing preclinical testing has grown substantially over the lastfew years. The main driver for this process comes from the fact that many organizationssuch as Big Pharma and start-up companies consider preclinical testing no longer a corecompetence. In this context a financial year as the one gone by asserts the confidenceon solid investments made by the company which shall now form the bulwark of long termstable revenue momentum. Specifically I congratulate you and the entire Vivo Bio Techfamily on maintaining continued GLP certification and AAALAC accreditation making us atpar with all International accredited preclinical laboratories. Further we continue tohold the major market share and status as the largest suppliers of Specific Pathogen Free(SPF) laboratory rodents. During this year your company also had established majorpartnerships with premier multinational companies. These include authorized breeder& distributor of custom rodent models and services of Cyagen Biosciences Inc (USA)and authorized distributor of lab animal diets of Special Diets Services (UK). Also yourcompany has now sourced SPF Guinea Pig breeders from Elm Hill Labs (USA) and in theprocess of establishment of commercial supply of SPF Guinea Pigs to biomedical industry inIndia. Your company anticipates a significant increase in the revenue from the lastquarter of next financial year through these new product & service streams.
As in the past we take this opportunity to reiterate our faith on our investments andstrengthen our commitment to develop further cash generating projects to create long termvalue for all the stakeholders. Like in any business the changing market as well as therapid innovation cycle presents its own challenges to win in the market. Vivo Bio Techcompany has a strong portfolio of market facing services built on highest qualitystandards to compete and win consistently on the global scale.
With additional preclinical services new partnerships in custom rodent models genomictechnologies lab animal diets SPF Guinea Pigs and high acceptance of specific pathogenlaboratory rodents across the Indian market we are confident of achieving significantrevenue growth on back of long term sustainable technological advantage. I personallythank our bankers our shareholders and our employees for their continued trust andconsistent confidence in Vivo Bio Tech.
|Dr. A. Sankaranarayanan Ph.D. F.C.P. |
|Chief Executive Officer & Director |