Upper circuit stock: Vivimed Labs surges nearly 5 per cent on receiving nod to manufacture Favipiravir

Vivimed Labs Limited announced that it has got approval to manufacture & market favipiravir tablet 200 mg & 400 mg under Vivimed’s own brand name 'Favulous' across India. 

Favipiravir is used for the treatment of mild to moderate patients of COVID-19. It is one of the leading oral anti-viral treatment approved in various countries for the potential treatment of COVID-19 disease patients.  

Reacting to this, the company’s stock today increased by 4.98 per cent and made an intraday high of Rs 28.45 per share at 12.32 pm.  

The company reported a net loss of Rs 49.55 crore in Q3FY21. In Q3FY20, it had reported a net loss of Rs 32.07 crore. Lupin reported net sales of Rs 277.94 crore for Q3FY21, an increase of 40.59 per cent, as against the net sales of Rs 197.70 crore for Q3FY20. 

According to BSE data, the stock traded at a price-to-book ratio of 0.40. The stock has a 52-week high and a 52-week low of Rs 41.50 and Rs 9.70, respectively.  

At 1.30 pm, the stock of the company was trading at Rs 28.45, up by 4.98 per cent on BSE.