Vivimed Labs surged 15.50% to Rs 19.75 after the company said it received approvals for three products from its manufacturing site in Hyderabad.
The first approval is for Bilastine tablets 20mg under brand name 'FLUSTIN'. Bilastine is a second-generation antihistamine. The drug is used in the treatment of allergic rhino conjunctivitis and urticaria (hives).
The second approval is for Ornidazole and Otloxacin tablets under brand name 'ORZOLE COMBI'. Ornidazole 500mg + Ofloxacin 200mg tablets is used in the treatment of bacterial and parasitic infections. It is used to treat gastrointestinal infections such as acute diarrhoea or dysentery, gynaecological infections, lung infections and urinary infections.
The third approval is for Paracetamol 125mg/5ml and Chlorpheniramine Maleate Syrup 2mg/5ml 100ml under brand name 'FEBRIL'.
Paracetamol, also known as acetaminophen, is a medication used to treat fever and mild to moderate pain. Chlorpheniramine Maleate is an antihistamine used to treat the symptoms of allergic conditions such as allergic rhinitis. Menthol is a topical analgesic. It works by temporarily relieving minor pain.
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Commenting on the approvals, Ramesh Krishnamurthy, CEO of Vivimed Labs, said: "These 3 approvals are testimony to high quality team work of Vivimed 's end to end team. Branded exports is strategic thrust of 'New and Vibrant Vivimed'. The approvals are 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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