Drug firm Vivimed Labs on Monday said it has exported the first shipment of Famotidine tablets that work by decreasing the amount of acid in the stomach, to Canada.
The export to Canada is for Famotidine tablets in the strengths of 40mg and 20mg, Vivimed Labs said in a regulatory filing.
"Successful launch of Famotidine is a demonstration of Vivimed''s contract development and manufacturing organisation (CDMO) capability to the Canada market in collaboration with a strategic partner," Vivimed Labs CEO Ramesh Krishnamurthy said.
This sets the stage for a new range of CDMO products. In the next six months, Vivimed shall continue to leverage end to end capabilities to expand its COMO footprint, he added.
The tablets are being manufactured in the company's Hyderabad site which is approved by Health Canada, Vivimed Labs said.
Famotidine tablets are used for the relief of heartburn, indigestion, upset stomach, sour stomach due to excess stomach acid, hyperacidity and/or acid indigestion.
They are also used for the prevention of the symptoms of excess stomach acid brought on by consuming food and/or beverages which may cause symptom, it added.
Shares of Vivimed Labs were trading at Rs 29.65 per scrip on BSE, up 4.77 percent from its previous close.
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