US patent adds zing to Ind Swift

Dalal Street Spikes

 The counter moved up in afternoon trades on reports that the company has received US patent for a formulation.

 The company is said to have announced on Tuesday that it had been granted a US patent for controlled release macrolide pharmaceutical formulation, a novel drug discovery system product.

 Ind Swift is said to have presence in a number of therapeutic areas such as steroids and hormones, anti-histamines, anti-infectives, cardiology, analgesics and dermatology.

 For the second quarter ended September 2003, Ind Swift reported a 12 per cent growth in net profit at Rs 3.04 crore, on a 12.1 per cent growth in net sales at Rs 49.70 crore.