Ind-Swift Lab gets ready to launch new API in US markets

Ind-Swift Laboratories Limited, leading manufacturer and exporter of active pharmaceutical ingredients (API), announced the launch of its major API - Fexofenadine, in a BSE filing on Monday after market hours. The company is ready to commercially launch the drug, which is an antihistamine drug used to treat allergy symptoms, in US markets.

As part of this initiative, the company has partnered with US's reputed generic player and has filed the ANDA with the support of IndSwift Laboratories Limited DMF. The company has already started getting commercial orders for the aforementioned drug and supplies are likely to start from the current quarter i.e. Q1FY21.

Speaking only of US, the revenue contribution stands at approximately 14 per cent and the company delivers seven to eight products to the US markets. This new API launch would be a different opportunity for the company as US is a significant market for Fexofenadine.

United States Food & Drug Administration (USFDA) had conducted an inspection from March 09 - March 13, 2020 and at its completion, US federal agency cleared it without issuing any 483 observation.

Ind-Swift Laboratories' stock today locked in upper circuit at Rs 33.15, up by 10 per cent.