Ind-Swift Laboratories shares were locked in 10 percent upper circuit on June 16 ahead of antihistamine drug launch in the US markets.
The stock was trading at Rs 33.15, up 9.95 percent on the BSE at 14:46 hours IST. It rallied 111 percent from its March lows.
"We are set to commercially launch key API - Fexofenadine, an antihistamine drug used for the treatment of seasonal allergic rhinitis and Urticaria in US market," Ind-Swift Laboratories in its BSE filing on June 15 said.
The company further said it has tied up with a reputed generic player in USA, which had filed the ANDA using the IndSwift Laboratories Limited DMF.
The company has received the commercial orders and the supplies are beginning from the current quarter, it added.
Ind-Swift said USA was a significant market for this product. Over 14 percent of the total turnover of the Company is contributed by the US market.
The company supplies 7-8 products commercially to the US market.
"The company has been successfully inspected by the USFDA in March 2020 for the sixth time since its inception, without any 483 observations. The company has also received EIR," Ind-Swift said.
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