Vimta Labs' new lab complex at Hyderabad Biotech Park to cost Rs.45 cr

The Hyderabad-based Vimta Labs is setting up a 2,00,000 sq. ft laboratory complex at SP Biotech Park in Hyderabad which is expected to be commissioned by September 2005. The new facility is expected to cost Rs 45 crore and Rs 12 crore will be through internal accruals and rest of Rs 33 crore funding will be by way of term loans.

Dr SP Vasireddi, chairman and managing director of Vimta told Pharmabiz that the facility will comprise molecular biology laboratories, microbiology laboratories, captive laboratories for drug testing, pre-clinical toxicology laboratories, secure data centre and network, and knowledge centre. The company will also to set up a training centre where it will train 50 people per batch on various parameters of contract research. The facility is to meet good laboratory practices, good manufacturing practices and good automation lab practices.

A Venkata Ramana, vice-president, Finance, said, Vimta is also planning to take up capacity expansion at its Chennai facilities. It is to add bed capacity in its voluntary health centre (VHS) for facilitating clinical trials. At present it offers clinical pathology and clinical trial services at Chennai. The company also carries out clinical pathology services in Visakhapatnam and Vijayawada facilities.

The company's services for overseas markets accounted for 40 per cent of the total services in the financial year 2004-05 and is expecting it to grow to 50 per cent during the current financial year. The company finds good opportunities in the US, Europe, Gulf countries and Asia Pacific.

Vimta is expecting to recruit 100 more scientists during the current fiscal, and it has strength of 500 employees at present.