Vivimed Labs hits upper circuit on gaining product approval from Uzbekistan Government

Vivimed Labs Limited informed that the company has received approval for a product from Uzbekistan Government for its PICS & Health Canada-approved site. Both these facilities are situated in Hyderabad. 

The product manufactured at these facilities is Paracetamol 125 mg/5 ml + Chlorpheniramine Maleate 2.5 mg/5 ml syrup under brand name Febril syrup 100 ml. Vivimed shall be launching the product this year. 

Paracetamol is also known as Acetaminophen, which is a medication used to treat pain and fever while Chlorpheniramine is an antihistamine used to relieve symptoms of allergy, hay fever, and the common cold. 

With this approval, the company has a strategy to increase its share of branded products in CIS markets. 

In November 2020, the company had received approvals for three ophthalmic products from its state-of-the-art sterile ophthalmic facility and three oral liquid suspension products from its PICS & Health Canada-approved site. These six approvals would contribute towards increasing the exports of Vivimed’s own brands to multiple countries. The management had informed that the company would be launching 10+ new products in H2FY21. 

At 2.38 pm today, the company’s stock hit upper circuit of 20 per cent at Rs 17.70 from its previous close of Rs 14.85 on BSE.