Vikas Multicorp recently announced its foray into pharma and healthcare business verticals, as its Board has principally approved the acquisition of Advik Laboratories and to enter into a non-binding, memorandum of understanding (MOU) with the promoters of the company.

VML has also formed a Committee of Directors for initiation of pharma and healthcare business and to help implementation of the proposed acquisition of Advik. Advik Laboratories has a facility to manufacture pharma products for both, domestic and export markets. Advik has been supplying pharma products to large Indian pharma companies like Dr Reddy Laboratories, Cadila Pharmaceuticals, Abbott India and Torrent Pharmaceuticals, etc. Advik has also been exporting its products mainly to countries in South East Asia and the African continent.

VML would now have two main verticals, going ahead-FMCG businesses and pharma products.