Ind-Swift Laboratories will hold a meeting of the Board of Directors of the Company on 25 July 2020.

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Net profit of Ind-Swift Laboratories reported to Rs 3.34 crore in the quarter ended March 2020 as against net loss of Rs 25.24 crore during the previous quarter ended March 2019. Sales declined 1.23% to Rs 191.72 crore in the quarter ended March 2020 as against Rs 194.10 crore during the previous quarter ended March 2019.

For the full year,net loss reported to Rs 21.19 crore in the year ended March 2020 as against net profit of Rs 28.95 crore during the previous year ended March 2019. Sales rose 3.05% to Rs 779.64 crore in the year ended March 2020 as against Rs 756.60 crore during the previous year ended March 2019.

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Fexofenadine is an anti-histamine drug used for the treatment of seasonal allergic rhinitis and urticaria.

The company has tied up with a reputed generic player in USA, which had filed the ANDA using the IndSwift Laboratories DMF (drug master file). The company has received the commercial orders and the supplies are beginning from the current quarter.

USA is a significant market for anti-histamine product. Over 14% of the total turnover of the company is contributed by the US market.

Ind-Swift Lab supplies 7-8 products commercially to the US market. The company has been successfully inspected by the USFDA (United States Food & Drug Administration) in March 2020 for the sixth time since its inception, without any 483 observations. It has also received EIR (establishment inspection report).

On a consolidated basis, the company reported a net loss of 9.03 crore in Q3 December 2020 as against a net profit of Rs 40.29 crore in Q3 December 2019. Net sales rose 2.6% YoY to Rs 203.72 crore during the quarter.

Ind-Swift Laboratories manufactures bulk drugs and intermediates. The company's product portfolio includes anti-infective, anti-allergy, analgesic and cardiovascular medicines.

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Ind-Swift Laboratories will hold a meeting of the Board of Directors of the Company on 20 June 2020.

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