You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

Vivimed Labs gains on securing product approvals

Capital Market 

Vivimed Labs rose 1.79% to Rs 17.05 after the company said it received approvals for ophthalmic and oral liquid suspension products.

Vivimed Labs announced today that it received approvals for 2 ophthalmic products from its sterile ophthalmic facility and 2 oral liquid suspension products from its PICS & Health Canada approved site. Both facilities are situated at Hyderabad. The company is expecting 5 more approvals in ophthalmics and oral solids in Q4 calendar year 2020. The announcement was made post trading hours yesterday, 12 October 2020.

Vivimed Labs' consolidated net profit jumped 26.5% to Rs 12.84 crore on a 6.2% decline in net sales to Rs 322.79 crore in Q1 June 2020 over Q1 June 2019.

Vivimed Labs is a pharmaceutical and chemical products company. The company's segments include speciality chemicals and pharmaceuticals.

Currently, the stock is trading 27.81% below its 52-week high of Rs 23.62 hit on 25 August 2020. The scrip has galloped 162.30% from its 52-week low of Rs 6.50 hit on 23 March 2020.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, October 13 2020. 12:56 IST