Vivimed Lab extend gains after first export shipment of famotidine tablets to Canada

Shares of Vivimed Labs extended its gain and hit an upper circuit on the stock exchanges in an otherwise lacklustre market.

The stock is currently trading at Rs31.15 up by Rs1.45 or 4.88% from its previous closing of Rs29.70 on the BSE.

The company has announced on Monday, the Export of 1st shipment to Canada - Famotidine tablets 40mg and 20mg is Histamine H2 Receptor Antagonists manufactured in its Vivimed Hyderabad site which is approved by health CANADA".

Commenting on the development, Ramesh Krishnamurthy, CEO of Vivimed Labs Ltd 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.

It is used for the relief of heartburn, indigestion, upset stomach, sour stomach due to excess stomach acid, hyperacidity and l or acid indigestion and for the prevention of the symptoms of excess stomach acid brought on by consuming food and/or beverages which may cause symptoms.