 "Cipla drops on Mylan's asthma drug launch")
Shares of drug maker Cipla have lost 2.5% to Rs 599 on the Bombay Stock Exchange (BSE) on worries of earnings been affected after its peer Mylan launched an asthma drug in UK which was earlier expected to be launched by Cipla.
Mylan recently announced the launch of the first generic version of GlaxoSmithKline's Seretide Evohaler (salmeterol xinafoate/fluticasone propionate) under the brand name Sirdupla (pMDI), 125/25 mcg and 250/25 mcg with 120 doses strengths, in the UK. Sirdupla will be used in the treatment of asthma in adults aged 18 years and over.
Media reports state that brokerage firm Bank of America Merrill Lynch (BoAML) quote the launch of asthma drug by Mylan in the UK is negative for Cipla because earlier the drug maker was expected to be the first company to launch this drug.
The stock opened at Rs 608, touched a high of Rs 611 on the BSE. A total of 106,384 shares have changed hands on the BSE so far.
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