Vivimed Labs rose 3.76% to Rs 17.95 after the company announced that it received approval for two products from Uzbekistan Government.
The company received approval for Bilastin tablets and Orzole combi. Both the products are manufactured at the company's Hyderabad-based facility that has been approved by PICS & Health Canada.Bilastin tablets (brand name Flustin) is a second-generation antihistamine used in treating allergic Rhino conjunctivitis and Urticaria (hives).
Orzole combi (Ofloxacin + Ornidazole) is used in treating bacterial and parasitic infections. It is used to treat gastrointestinal infections such as acute diarrhoea or dysentery, gynaecological infections, lung infections and urinary infections.
Ramesh Krishnamurthy, CEO of Vivimed Labs said: "We are very excited to receive approval to Vivimed's own products. Vivimed strategy is to increase its share of Branded products in CIS Markets. Vivimed shall be launching these products in 2021. Our purpose is to offer innovative & top quality formulations at affordable prices. This approval is testimony to Vivimed's growth strategy."
Vivimed Labs is a pharmaceutical and chemical products company. The company's segments include speciality chemicals and pharmaceuticals.
On a consolidated basis, Vivimed Labs posted a net loss of Rs 49.55 crore in Q3 FY21 as against a net loss of Rs 32.07 crore in Q3 FY20. Net sales jumped 40.6% year on year to Rs 277.94 crore in Q3 FY21.
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