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Vivimed announces acquisition of SONEAS by Group's API business, UQUIFA

Posted On: 2018-05-16 13:12:38

Vivimed Labs Spain S.L, the parent of UQUIFA S.A, has signed definitive agreements to facilitate the acquisition of SONEAS, a Budapest (Hungary) head quartered CDMO company, focussed on the Inriovator Pharmaceutical and Fine Chemical sectors. The business has been acquired from Lochlomond and Euroventures which are both based out of Hungary. SONEAS has for the year 2017, reported revenues of 12.2mn.

The acquisition broadens UQUIFA's market offering in the CDMO space by enhancing its ability to now undertake preclinical, phase I, II and III NCE project development. These projects can then also potentially feed into UQUIFA's existing cGMP inspected and approved manufacturing facilities in Spain and Mexico, creating a high-value project pipeline.

In terms of technology, SONEAS brings a high level of competency in NCE development as well as new technologies such as metal catalysis and heterocyclic chemistry to the UQU IFA technology tool box. From a manufacturing perspective, SONEAS brings both cGMP pilot plant and over 180KL of key starting material (KSM) cGMP capacities to the UQUIFA portfolio. It also counts within its pipeline three customer projects which are in Phase 2a/2b and one in Phase 3 of the NCE development lifecycle.

UQUIFA believes the acquisition of SONEAS will allow it to expand faster into the CDMO sector (40% of UQUIFA sales) where it already hasan important presence in the geographies of USA, Europe and Japan. To build on the cost-effective development capabilities with aggressive timelines and, to deliver effective results for the combined customer base, will be a key objective for UQUIFA, according to Mr Saurabh Gurnurkar, the Executive Director.

Shares of VIVIMED LABS LTD. was last trading in BSE at Rs.66 as compared to the previous close of Rs. 66.25. The total number of shares traded during the day was 76280 in over 536 trades.

The stock hit an intraday high of Rs. 68.05 and intraday low of 65.8. The net turnover during the day was Rs. 5150285.


Source: Equity Bulls

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