New Delhi: Hyderabad-based Vivimed Labs has acquired Uquifa, manufacturer of active pharma ingredients (APIs) and intermediates with operations in Spain and Mexico, for a consideration of $ 55 million.
Vivimed said in a release that “In a move to bring in strategic growth into its product mix and expand the footprint in Europe and the Americas, the company has taken a measured stride with the acquisition of Uquifa Spain and Uquifa Mexico.”
The investment consideration of $ 55 million is paid by equity infusion of $ 20 million, debt financing of $ 25 million and the balance of $ 10 million by way of deferred payment, it added.
Uquifa will become the lively pharmaceutical ingredient (API) division of the Vivimed group. The company said that the acquisition would reinforce the company’s present position in pharma APIs and intermediates while considerably improving the cost competitiveness of Uquifa.
“Complementing each other’s needs and growth plans the acquisition envisages being a healthy, two-way opportunity pipeline for Vivimed,” the company said in a filing to the BSE.
According to the company, the acquisition of Uquifa will add to its multi-geographical positions and knowledge base. “This will fundamentally mean greater comfort levels for customers and channel partners,” the company said.
Uquifa sells in more than 70 countries and has over 150 active DMFs filed and 20 COS approved. The company has a net assets of $ 65 million and gross assets of $ 100 million as of this June.