Vivimed Labs announced today that it has received the PIC/S (Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme) GMP (Good Manufacturing Practices) approved for one of its pharmaceutical manufacturing facility in Jeedimetla, Hyderabad for supply of finished dosages formulation to the CIS (Commonwealth of Independent States) region.

Vivimed and its wholly owned subsidiaries also have three USFDA/ EDQM approved API facilities in Spain and Mexico and one USFDA approved finished formulation facility in India.

Commenting on the development, Santosh Varalwar, managing director and CEO said, "I am glad to announce that we have now received the awaited GMP PIC/S approval for supply of finished dosage formulation to the CIS region. This approval is a testament to the quality of our manufacturing facilities and commitment to match the intemational 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."  

Shares of the company declined Rs 9.45, or 3.74%, to trade at Rs 243. The total volume of shares traded was 3,722 at the BSE (12.49 p.m., Friday).