Vivimed Labs shares surge 20% on approvals for 3 products

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Vivimed Labs share price surged 20 percent intraday on April 16 after the company received approvals for three products.

".... received approvals for 3 products from its state of the art manufacturing site in Hyderabad, which is PICS & Health Canada approved site," the company said in its release.

The approved products include Bilastine tablets 20mg under the brand name FLUSTIN. It is used in the treatment of allergic Rhinoconjunctivitis and Urticaria (hives).

The second product is Ornidazole and Otloxacin tablets under brand name ORZOLE COMBI.

Ornidazole SOOmg + Ofloxacin 200mg tablets are used in the treatment of bacterial & parasitic infections.

The third product is Paracetamol 12Smg/Sml and Chlorpheniramine Maleate Syrup 2mg/Sml 100mi under the brand name FEBRIL.

Paracetamol, also known as acetaminophen, is a medication used to treat fever and mild to moderate pain and Chlorpheniramine Maleate, is an antihistamine used to treat the symptoms of allergic conditions such as allergic rhinitis.

"These 3 approvals are testimony to high-quality team work of Vivimed's end to end team. Branded exports is the strategic thrust of 'New and Vibrant Vivimed'. The approvals are testimony to Vivimed's growth strategy," said Ramesh Krishnamurthy, CEO of Vivimed Labs.

The share touched a 52-week high of Rs 23.62 and a 52-week low of Rs 9.70 on 25 August 2020 and 27 May 2020, respectively.

Currently, it is trading 14.69 percent below its 52-week high and 107.73 percent above its 52-week low.