Cipla stock rises on strong launch pipeline, FDA approval for injection

Margin gains and steady growth in the Indian market to support the stock, say analysts.

Amid sell-off across the market, the stock of the fourth-largest Indian health care company by market capitalisation, Cipla, was up 3.8 per cent. The near-term trigger has been a product approval with limited competition in the US market, expectations of higher sales of its Covid portfolio amid rising infections caused by the new variant, and the launch pipeline which is yet to fully factor in the price. 

The primary reason for the gain on Monday was the approval by the US Food and Drug Administration for its Lanreotide injection. The company announced the approval for the drug used in treating