Cipla rose 0.33% to Rs 637 at 9:50 IST on BSE after the company received approval from United States Food & Drug Administration for an innovative formulation Lopinavir/ritonavir.
The announcement was made after trading hours yesterday, 3 June 2015.
Meanwhile, the BSE Sensex was down 39.92 points, or 0.15%, to 26,784.88.
On BSE, so far 28,710 shares were traded in the counter, compared with an average volume of 1.91 lakh shares in the past one quarter.
The stock hit a high of Rs 643.80 and a low of Rs 636.30 so far during the day. The stock hit a record high of Rs 752.45 on 10 March 2015. The stock hit a 52-week low of Rs 384.20 on 3 June 2014.
The stock had outperformed the market over the past one month till 3 June 2015, falling 0.34% compared with 0.64% decline in the Sensex. The scrip had however underperformed the market in past one quarter, declining 13.1% as against Sensex's 9.31% fall.
The large-cap pharma company has an equity capital of Rs 160.59 crore. Face value per share is Rs 2.
Cipla said it has received approval from United States Food & Drug Administration (USFDA) for an innovative formulation Lopinavir/ritonavir (LPV/r) 40mg/10 mg oral pellets for pediatric specific treatment for infants. This vaccine is prescribed for the treatment of AIDS in infants and young children.
Cipla has long recognized the lack of access to life saving child-friendly formulations for the treatment of HIV, which prompted it to develop an innovative formulation of LPV/r oral pellets. The pellets are to be sprinkled on sweetened porridge for infants and administered to them. The pellets are produced by melt-extrusion technology and are enclosed in capsules.
Cipla has been working for many years in collaboration with Diana Gibb, Professor of Epidemiology, Senior Programme Leader and Honorary Consultant Paediatrician at Medical Research Council Clinical Trials Unit at UCL (University College London) towards development of this novel child-friendly formulation which has been approved by US FDA under the President's Emergency Plan for AIDS Relief (PEPFAR) program.
Cipla's consolidated net profit fell 0.4% to Rs 259.66 crore on 20.8% rise in total income to Rs 3153.89 crore in Q4 March 2015 over Q4 March 2014.
Powered by Capital Market - Live News
