Cipla rose 0.46% to Rs 0.46 at 9:53 IST on BSE after the company said it received approval from the US drug regulator for Isoproterenol Hydrochloride injection.
Meanwhile, the S&P BSE Sensex was down 141.77 points, or 0.40% to 35,597.39.On the BSE, 62,000 shares were traded in the counter so far compared with average daily volumes of 4.62 lakh shares in the past two weeks. The stock had hit a high of Rs 592.15 and a low of Rs 584.05 so far during the day. The stock hit a 52-week high of Rs 663 on 7 November 2017. The stock hit a 52-week low of Rs 508.10 on 22 May 2018.
Cipla announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Isoproterenol Hydrochloride Injection USP, 0.2mg/mL, single-use sterile Ampoule from the United States Food and Drug Administration (USFDA). Cipla's Isoproterenol Hydrochloride injection USP, indicated for the treatment of cardiac problems, ampoule is AP-rated generic therapeutic equivalent version of Hospira Inc's Isuprel injection. According to IQVIA (IMS Health), Isuprel Injection and its generic equivalents had US sales of approximately $148 million for the 12-month period ending April 2018. The announcement was made after market hours yesterday, 13 June 2018.
Separately, Cipla said its Ugandan subsidiary, Cipla Quality Chemical Industries (CiplaQCIL), intends on partnering with the government of Uganda to increase access to cancer treatments. And as part of its growth strategy, CiplaQCIL is evaluating an initial public offering. In the event that this is achieved, a section of the public will have a stake in the company. The transaction would be subject to approval from the relevant market regulators. The announcement was made after market hours yesterday, 13 June 2018.
On a consolidated basis, Cipla reported net profit of Rs 153.25 crore in Q4 March 2018 as against net loss of Rs 62.79 crore in Q4 March 2017. Net sales rose 0.25% to Rs 3495.81 crore in Q4 March 2018 over Q4 March 2017.
Cipla is a global pharmaceutical company. Its portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.
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