Cipla reels under WHO's AIDS drug blow

DALAL STREET SPIKES

Domestic pharma major Cipla was hammered following the news that two of its drugs used to treat AIDS were taken off the World Health Organisation's (WHO) list of pre-qualified drugs.

The stock after hitting a high of Rs 230 ended at Rs 216.15, down 3.57 per cent from its previous close. The counter witnessed volumes of 1.33 lakh shares at the BSE.

According to market sources, the counter has been under selling pressure with a leading domestic mutual fund offloading at higher levels.

The stock has plunged in the past few days from a high of Rs 255.05 on May 24 to yesterday's close of Rs 216.15. After the recent stock-spilt, the stock now has a face value of Rs 2 each. The two drugs removed from the list include Lamivudine 150 mg tablet and Lamivudine 150 mg plus Zidovudine 300 mg tablet.

Lamivudine is a generic form of GlaxoSmithKline Plc's Epivir and Zidovudine is a generic of Glaxo's AZT.