Hyderabad, Mar 14 (UNI) Vivin Laboratories Pvt Ltd, a city-based pharmaceutical company, today announced its tie-up with US-based group of companies, including Cascade Columbia Distribution and Syndel Laboratories, to manufacture high value identified drugs and several chemicals compounds identified by them.
The contract, to be in force for three years, would be worth US Dollar 25 million per annum to start with. The contract could be extended with mutual consent.
Addressing a press conference here, Vivin Laboratories Managing Director B Parvataiah said the company was engaged in manufacturing cost-effective, high value intermediates, APIs (Active Pharmaceutical Ingredients) through innovative research, development and advanced technological methods. Among other products, it specialised in manufacturing anti-AIDS drugs intermediates.
Giving details about the pact, he said ''we will supply 1,800 tonnes of speciality chemicals and veterinary drugs. It is an exclusive contract. Once this tie-up comes into effect in two months, the annual turnover of Vivin Labs is expected to jump from the current Rs 40 crore to Rs 70 crore in the next one year.'' Cascade Columbia Distribution Director Korapati said ''Cascade Columbia is a Seattle-based company which is into Chemical Distribution Business since 1926. We have expanded our businesses to several places to manufacture and distribute chemicals, vitamins and drugs. Syndel Laboratories and Western Chemicals are USFDA approved manufacturing facilities to manufacture veterinary drugs and spawning drugs for fish. Our products are distributed all over the world by Virbac, the animal division of Glaxo Smithklime Beecham.'' As part of its major expansion plans, Vivin had got an allocation of seven-acre land in Jawaharlal Nehru Pharma city at Parvada in Visakhapatnam, Mr Parvataiah said.
''We are constructing a modern plant in this land with an initial investment of Rs 35 crore. This plant will be built as per the USFDA norms. The new plant at Vizag, which would be operational this year, will manufacture Anti HIV Drugs, Prills and Oncology products. When this plant goes operational, our turnover for 2009 is projected to touch about Rs 100 crore,'' he said.
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