The company has received approval from the US Food and Drug Administration (USFDA) to manufacture 10 mg, 20 mg, 40 mg, 60 mg and 80 mg variants of Propranolol Hydrochloride tablets for the US market, Ipca said in a filing to the Bombay Stock Exchange.
The annual market sales for the tablet in the US was $24.1 million, it said.
"This is the first product approval received by Ipca for a product manufactured from its Piparia (Silvassa) formulations manufacturing unit," the filing added.
Propranolol Hydrochloride is used in the treatment of hypertension and other cardiovascular disorders. Shares of Ipca were trading at Rs 600, up 0.63 per cent in the late afternoon trade on the BSE.