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Vivimed Labs announced the export of first shipment of famotidine tablets (40mg and 20mg) to Canada. The drug is manufactured at the company's Hyderabad facility.
Famotidine is an histamine H₂ receptor antagonist medication that decreases stomach acid production. The drug is used for the relief of heartburn, indigestion, upset stomach, sour stomach due to excess stomach acid, hyperacidity and/or acid indigestion. It is also used for the prevention of the symptoms of excess stomach acid brought on by consuming food and/or beverages which may cause symptoms.
Commenting on the development, Ramesh Krishnamurthy, CEO of Vivimed Labs said, "Successful launch of Famotidine is a demonstration of Vivimed's COMO capability to prestigious Canada market in collaboration with a highly respected strategic partner. This sets the stage for exciting new range of COMO products. In the next 6 months Vivimed shall continue to leverage end to end capabilities to expand its COMO foot print."
Vivimed Labs is a pharmaceutical and chemical products company. On a consolidated basis, the company posted a net loss of Rs 49.55 crore in Q3 FY21 as against a net loss of Rs 32.07 crore in Q3 FY20. Net sales jumped 40.6% year on year to Rs 277.94 crore in Q3 FY21.
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