Vivimed Labs Ltd has acquired a manufacturing facility of Chennai-based Actavis Pharma Manufacturing Ltd for Rs 122 crore.
The Hyderabad-based Vivimed has entered into an agreement to this effect with Actavis Pharma Manufacturing’s solid oral dosage facility in Alathur, Tamil Nadu, the BSE was informed on Thursday.
The facility is being acquired from Actavis Holding Asia BV, an affiliate of Actavis Inc. The acquisition was being funded from internal accruals and debt.
The manufacturing facility has been approved by the US Food and Drug Administration in April 2007 and has a capacity to produce 1.2 billion solid oral dosages per annum.
Vivimed Labs’ scrip gained five per cent on the BSE on Thursday to close at Rs 106.10.