Vivimed Labs Spain S.L, the parent of UQUIFA S.A, has signed definitive agreements to facilitate the acquisition of SONEAS, a Budapest (Hungary) head quartered CDMO company, focussed on the Inriovator Pharmaceutical and Fine Chemical sectors.

The business has been acquired from Lochlomond and Euroventures which are both based out of Hungary. SONEAS has for the year 2017, reported revenues of Euro 12.2 million.

The acquisition broadens UQUIFA's market offering in the CDMO space by enhancing its ability to now undertake preclinical, phase I, 11 and III NCE project development. These projects can then also potentially feed into UQUIFA's existing cGMP inspected and approved manufacturing facilities in Spain and Mexico, creating a high-value project pipeline.

Shares of the company gained Rs 2.1, or 3.18%, to trade at Rs 68.10. The total volume of shares traded was 73,620 at the BSE (12.01 p.m., Wednesday).