Ind-Swift up on regulatory nod for new drug

DALAL STREET SPIKES

Ind-Swift, which was range-bound for a couple of months now, rose 6 per cent on Tuesday to Rs 73.15 after the company had unveiled a unique combination of anti-diarrhoea drug.

"Id-Swift said it won regulatory approval in India for a broad-spectrum anti-diarrhoea drug, which was developed under the company's own R&D programme. It has completed all stages of clinical trials of the drug and is slated for launch next month," a dealer said.

The market size of the anti-diarrhoea drug in India is estimated at Rs 500 crore. The company has recently announced a Rs 100-crore expansion plan for setting up three production units in Punjab, Himachal Pradesh and Jammu & Kashmir.

The new units would more than double the company's production capacity in the next one year.