Vimta Labs is in advanced stage of commissioning its new life sciences facility in Genome Valley near Hyderabad. The phase I of the life sciences facility is nearing completion and is expected to be operational before July 2006.
It is also in process to set up a preclinical facility that will take up in vitro and in vivo studies. The facility is likely to be completed by October 2006. As of now, advanced equipment are being installed in the new campus. Trial runs and testing of equipment is in progress. The company will make efforts to meet global outsourcing demands by building a world-class Research Process Outsourcing (RPO) facility.
As part of the expansion plans, Vimta is setting up an advanced molecular research facility comprising genomics and proteomics.
The company is also establishing a state-of-the-art data centre through a partnership with IBM to effectively manage the people-knowledge relationships. A sophisticated network with high bandwidth is being established in the new facility. A knowledge centre is being established to train new teams. Vimta is planning to increase its team from current strength of about 530 personnel to about 1500 by 2010, Dr SP Vasireddi, chairman and managing director, Vimta Labs, said.
Vimta's new facilities will comprise of e-Labs/virtual laboratories, customer specific contract labs, advanced molecular research labs to support drug development by pharma and biotech sectors and molecular pathology, ultra trace analysis at femtogram levels to support the regulators and consumers in food safety and environmental safety. The new facilities will contain 40 cold rooms, 12 stability walk in rooms, 22 mass spectrometers, five trace analysis labs.
The business is being outsourced by Europe and North America to take India advantage with respect to cost-effective human resource and infrastructure. These markets account for about 50 per cent of the company's revenues. Vimta's facilities have been audited by various international regulatory bodies during the last fiscal such as European regulatory bodies of Denmark, Sweden and Portugal, WHO-France, New Zealand Medsafe and USFDA, he informed.
Vimta has conducted about 800 studies involving more than 25,000 subjects. It has over 160 clinical beds and once the new facilities are operational, this capacity will touch 250 beds. The clinical reference lab can conduct more than 750 special tests and has a capacity to handle up to 10,000 samples per day. It has a nationwide network with hospitals through its 570 patient service centres.
Vimta offers analytical services to drug companies such as analytical method development and validation, impurity profiling, stability studies, analysis of raw materials, APIs and formulations.
He informed, the company is looking for acquisitions and is currently evaluating all potential options. The company intends to identify and invest inorganically in companies or assets in the clinical CROs, data management, clinical reference labs and environmental segments. It is expecting a turnover of Rs 90 - 100 crore this financial year and is hoping to achieve about Rs 450 crore by 2010.