Cipla surges after its partner Sandoz received USFDA nod for a key drug

Shares of Mumbai based pharmaceutical company Cipla are trading higher by 4% on the BSE after its partner Sandoz received a USFDA nod to launch a generic version of Pulmicort respules (budesonide). 

Budesonide is a glucocorticoid steroid for the treatment of asthma, non-infectious rhinitis (including hay fever and other allergies), and for treatment and prevention of nasal polyposis. Additionally, it is used for Crohn's disease (inflammatory bowel disease).

Sandoz’s budesonide inhalation suspension product is indicated for maintenance treatment of asthma and as prophylactic therapy in children 12 months to 8 years of age. Budesonide inhalation suspension is not indicated for the relief of acute bronchospasm. CLICK FOR FULL REPORT

Media reports suggest that Cipla will provide active pharmaceutical ingredients (APIs) to Sandoz for the above.

The stock opened at Rs 682 and touched a high of Rs 707 on the BSE. A total of 130,809 shares have changed hands on the BSE so far.