Ipca Labs' two active pharmaceutical ingredients (API) exempted from import alerts by US Food and Drug Administration are Furosemide & Chloroquine Phosphate (CQP).
Ipca Laboratories shares rallied 6 percent intraday Tuesday after a media report suggested that the company received exemption for two APIs from the US health regulator.
CNBC-TV18 reports quoting US FDA website that two active pharmaceutical ingredients (API) exempted from import alerts by US Food and Drug Administration are Furosemide & Chloroquine Phosphate (CQP).
Furosemide is used to treat fluid build-up due to heart failure, liver scarring, or kidney disease while CQP is anti-malarial drug.
Furosemide is worth $120 million product and CQP is about $40 million, CNBC-TV18 said.
Ipca's three manufacturing plants, which are US-focussed, have been under the import alert since 2015.
The USFDA had issued import alert for Ratlam API plant in January 2015 and for Silvassa & Pithampur plants in March 2015.
At 14:09 hours IST, the stock was quoting at Rs 662.40, up Rs 17.35, or 2.69 percent on the BSE.
