Vivo Bio Tech Ltd to set up new facility at AMTZ campus, Vizag

Vivo Bio Tech Ltd has executed a lease deed with M/s. Andhra Pradesh Med Tech Zone Limited for setting up a new facility at Andhra Pradesh Med Tech Zone (AMTZ) Campus, Pragati Maidan, Visakhapatnam, Andhra Pradesh.

Vivo currently doesn't have capacity in large animals. The new facility adds Pigs and Canines to Vivo's small animal portfolio.

The new facility, when fully functional can hold upto 178 large animals.

The complete facility has been taken over by Vivo. By end of March, vivo is looking at operationalizing 25% of the capacity by end of FY 22-23, complete facility will be operational.

The additional investment like cages, lab equipment, accreditation costs, animals, Human resources will be needed in the next few quarters. Total monthly expenditure Rs 30 Lacs (fixed) from March-22 and overall additional investment of Rs 2.5 Cr will be further needed.

This new acquisition will complete Biology portfolio of Vivo. Currently Vivo is offering services related to In-vitro studies, In-vivo studies, Physico- chemical studies, Regulatory and non-regulatory toxicology, Pharmacology, ADME, DMPK studies and sale of SPF rats and mice, Guinea Pigs and Rabbits and diagnostic services. The new addition will add medical device testing, DMPK, regulatory and nonregulatory toxicology testing services on large animals.

Shares of VIVO BIO TECH LTD. was last trading in BSE at Rs. 65.65 as compared to the previous close of Rs. 65.90. The total number of shares traded during the day was 4645 in over 88 trades.

The stock hit an intraday high of Rs. 67.50 and intraday low of 65.10. The net turnover during the day was Rs. 307381.00.

Source : Equity Bulls

Keywords

VIVOBIOTECH INE380K01017 Vizag APMedTechZoneCampus NewFacility