Cipla gets healthier after inking pact with Roche Pharma

Cipla rose 1.41% to Rs 594.40 at 9:20 IST on BSE after the company announced partnership with Roche Pharma India to create greater access to key medicines

The announcement was made after market hours yesterday, 27 February 2018.

Meanwhile, the S&P BSE Sensex was down 263.57 points or 0.77% at 34,082.82.

On the BSE, 31,000 shares were traded on the counter so far as against average daily volumes of 1.81 lakh shares in the past two weeks. The stock had hit a high of Rs 596.60 and a low of Rs 590 so far during the day. The stock had hit a 52-week high of Rs 663 on 7 November 2017. The stock had hit a 52-week low of Rs 479 on 26 May 2017.

Cipla and Roche Pharma India announced that the two companies have entered in to an agreement under which Cipla will promote and distribute tocilizumab (Actemra) and Syndyma, the 2nd brand of Roche's cancer therapy, bevacizumab (Avastin) in India.

This partnership is in line with Cipla and Roche's efforts to improve healthcare and increase access to innovative, life-changing medicines in India, particularly to patients who currently do not have access to them.

Cipla's consolidated net profit rose 4.82% to Rs 403.45 crore on 4.37% rise in total income to Rs 3966.75 crore in Q3 December 2017 over Q3 December 2016.

Cipla is a global pharmaceutical company. Its portfolio includes products across wide range of therapeutic categories.

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