Cipla inches up on launch of Serroflo in Germany and Sweden

Cipla rose 0.34% to Rs 559.30 at 09:19 IST on BSE after the company announced the launch of Serroflo, its Salmeterol/Fluticasone MDI, in Germany and Sweden.

The announcement was made after market hours on Tuesday, 2 September 2014.

Meanwhile, the S&P BSE Sensex was up 108.67 points or 0.4% at 27,128.06

On BSE, so far 31,431 shares were traded in the counter as against average daily volume of 2.06 lakh shares in the past one quarter.

The stock hit a high of Rs 562.45 and low of Rs 557.50 so far during the day. The stock hit a record high of Rs 575.20 on Tuesday, 2 September 2014. The stock hit a 52-week low of Rs 366.70 on 24 February 2014.

The large-cap company has an equity capital of Rs 160.58 crore. Face value per share is Rs 2.

Cipla after market hours on Tuesday, 2 September 2014 announced the launch of Serroflo, its Salmeterol/Fluticasone MDI, in Germany and Sweden. With this launch, Cipla opens the door for new, highly efficient treatments in the European healthcare market. Serroflo will substantially improve the affordability of fixed combinations in Europe and help manage health costs for respiratory treatment, Cipla said in a statement. "With Serroflo we offer in Germany and Sweden an alternative which is effective and efficient and therefore brings many advantages into a market which suffers from limited resources", said Mr. Frank Pieters, Head of Cipla Europe.

In Germany the new product is distributed under the name "Serroflo", whereas in Sweden the combination is launched as "Salmeterol/Fluticasone Cipla". Serroflo and Salmeterol/Fluticasone Cipla will be available in a pMDI with HFA propellant in two strengths, Cipla said in a statement.

Cipla's consolidated net profit declined 39.3% to Rs 294.58 crore on 13.6% growth in net sales to Rs 2647.20 crore in Q1 June 2014 over Q1 June 2013.

Cipla is a global pharmaceutical company. Its portfolio includes 2000 products in 65 therapeutic categories with one quality standard globally.

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