Vivimed Labs acquire Uquifa for $55 millionDecember 1st, 2011 - 10:57 pm ICT by IANS
Hyderabad, Dec 1 (IANS) Hyderabad-based Vivimed Labs Ltd Thursday announced the acquisition of Uquifa, a 75-year-old manufacturer of pharma APIs and intermediates with operations in Spain and Mexico, for $55 million.
With the acquisition of Uquifa Spain and Uquifa Mexico, Vivimed Labs hopes to bring in strategic growth into its product mix and expand the footprint in Europe and the Americas.
The acquisition has been financed by a balanced mix of debt and equity funds. 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, said a release by Vivimed Lads.
Uquifa has a net assets of $65 million and gross assets of $100 million as on June 30, 2011.
The integration process is to be completed in a time span of 18 to 24 months.
While Uquifa gets the supply side efficiencies and knowledge base of Vivimed in pharma, Vivimed would leverage the pre-eminent position of Uquifa in APIs and their robust pipeline of filings to accelerate growth across Europe and the Americas in the next five years.
“Multi-geographical locations spell stability and cement long term relationships with customers and channel partners. With Uquifa, Vivimed will have a footprint into LATAM and deeper into Europe,” said Santosh Varalwar, MD, Vivimed Labs.
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