Ipca Labs surges as USFDA partially lifts import ban for chloroquine supply

Shares of Ipca Laboratories soared 18 per cent to hit a new high of Rs 1,616 in an otherwise weak market on the BSE on Monday after the US health regulator partially lifted an import alert on the company’s two plants to ensure the supply of chloroquine tablets.

The medicine is considered one of the possible treatments for the Covid-19, by the US Centre for Disease Control (CDC).

“Due to the shortage implications and/or medical necessity of certain drugs and finished products, the United States Food and Drug Administration (FDA) has made exception to the import alert for