Drug firm Ind Swift Laboratories today said it has received US health regulator's approval to sell five active pharmaceutical ingredients in the American market.
The company has received approval from the US Food and Drug Administration (USFDA) for five APIs being produced at its Derabassi plant in Punjab, Ind Swift Laboratories said in a statement.
The company has received USFDA nod to sell Naratriptan Hydrochloride, Ropinirole Hydrochloride, Donepezil Hydrochloride, Acamprosate Calcium and Clarithromycin, it added.
The five products are indicated for treating various ailments including migraine and alzheimer's disease, it said.
Commenting on the development Ind Swift Laboratories Vice Chairman and Managing Director NR Munjal said: "This multi product approval will give multifold aggression to the sales as we have good presence in US through our US subsidiary and we expect this approval to give additional 50-60% growth in US sales."
He added the company is already supplying three products commercially to the US markets, which currently contributes 3% of the company's sales.
With USFDA approving five products, the company expects this figure to reach to 7-8% in next three years, Munjal said.
The worldwide market for the five products, which have been approved by the USFDA, is estimated to be around $5 billion, the company said.
For the third quarter ended FY12, the company posted total revenues of Rs 358.80 crore, up 15.7%, from Rs 310.11 crore in the year-ago period (FY11).
Shares of Ind Swift Laboratories today closed at Rs 98.65 on the BSE, up 3.30% from its previous close.
