Shares of Vivimed Labs
jumped 8% on the BSE in the last hour of trade on Wednesday. The pharma company announced that its 50:50 JV with Strides -- Strides Vivimed Pte. Ltd, Singapore, has received approval for Albendazole Tablets USP 200mg from the USFDA.
"This is the second generic approval by USFDA for Albendazole Tablets," the company said in the filing.
According to IQVIA MAT data, the US market for Albendazole Tablets USP 200 mg is approximately $100mn. Albendazole Tablets is a generic version of Albenza Tablets of Amneal Pharmaceuticals, Inc.
Vivimed Labs Ltd share price is currently at Rs38.80, up Rs2.9, or 8.08%, from its previous close of Rs35.90 on the BSE.
The scrip opened at Rs36.45 and has touched a high and low of Rs39.70 and Rs36.45, respectively.