Vivimed Labs Ltd has received the PIC/S (Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme) good manufacturing practice (GMP) approval for one of its pharmaceuticals manufacturing facilities in Jeedimetla, Hyderabad, for supply of finished dosage formulations to the CIS region. Vivimed and its wholly-owned subsidiaries also have three USFDA/EDQM approved API facilities in Spain and Mexico, and one US FDA approved finished formulation facility in India.
PIC/S GMP approval provides Vivimed with a significant opportunity to penetrate the CIS markets and other PIC/S member countries for the formulation manufacturing business. The company is expected to start making commercial supplies to the CIS region from Q1 FY2015. The formulation manufacturing business contributed to 16% of Vivimed's nine moths FY2014 revenues of Rs 990 crore.
Santosh Varalwar, Managing Director and CEO, Vivimed, said, "PIC/S GMP approval is a testament to the quality of our manufacturing facilities and commitment to match the international regulatory expectations of the pharmaceutical business. It will provide us with an opportunity to start catering to customers in the CIS region and other Asean countries. We are confident that this will help in enhancing our formulations exports business."
PIC/S GMP approval provides Vivimed with a significant opportunity to penetrate the CIS markets and other PIC/S member countries for the formulation manufacturing business. The company is expected to start making commercial supplies to the CIS region from Q1 FY2015. The formulation manufacturing business contributed to 16% of Vivimed's nine moths FY2014 revenues of Rs 990 crore.
Santosh Varalwar, Managing Director and CEO, Vivimed, said, "PIC/S GMP approval is a testament to the quality of our manufacturing facilities and commitment to match the international regulatory expectations of the pharmaceutical business. It will provide us with an opportunity to start catering to customers in the CIS region and other Asean countries. We are confident that this will help in enhancing our formulations exports business."