Mumbai-based VAV Life Sciences, through its subsidiary VAV Lipids has invested Rs 15 crore (US$ 2 million) to boost production capacity at its EU GMP certified site based in Ratnagiri in Maharashtra to meet overseas demand for lipidic ingredients used in Covid-19 vaccines.
On completion, the expanded facility will produce about 6 times its current volume, thereby increasing lipid production to meet about 40% of global demand. The new capacity which would be operational from June 2022 will boost VAV’s sales by about 3.5 times to reach Rs 45 crores (USD 6 million) by 2023. According to the company, the value and volume may look small but is sufficient to meet the current and anticipated global demand of the future.
VAV is the only Indian and fourth global producer of highly purified lipids that are approved for use in novel drug delivery systems (NDDS).
These lipids are highly specialized biomolecules that are produced in small quantities and are used in the production of Covid-19 vaccines and other medicines for treating a variety of conditions like cancer and heart disease.
Speaking about the expansion, Arun Kedia, Managing Director, VAV said, “The Covid-19 pandemic and mucormycosis (black fungus) infections, as well as the rising incidence of cancer or genetic diseases, has brought lipids under the limelight. There was an unprecedented surge in demand for these biomolecule lipids, which led to supply distress in India and globally. Since VAV is the only Indian company that makes these specialized lipids, we accepted the challenge to immediately ramp up production to meet the demand.”
According to the company officials, the project is funded by internal accruals and EXIM Bank debt. VAV has been identified by EXIM bank under their ‘Ubharte Sitaare’ program as a potential company for investment and was recognised by the union finance minister Nirmala Sitharaman at a conference hosted by the bank in August this year at Lucknow, India
VAV Lifesciences Private Limited is a nanotechnology research-based biopharmaceuticals manufacturing company, headquartered in Mumbai. The company produces high-grade ingredients used in the pharmaceutical, nutraceutical, healthcare and personal care industries. It is among the world’s leading manufacturers of phospholipids and lecithin. Its subsidiary VAV Lipids Private Limited has a state-of-the-art EU cGMP-certified facility for manufacturing phospholipids at Ratnagiri in Maharashtra.
VAV’s product portfolio includes plant phospholipids (LECIVA), Animal phospholipids (LIPOVA), synthetic phospholipids, and neutral lipids. The other products include APIs and specialty proteins. VAV exports almost 80% of its products primarily to North America, Europe, and Asia. VAV Lifesciences is also working in close cooperation with reputed academic research institutions for the development of advanced and novel drug delivery therapies.