Cipla rose 2.46% to Rs 617.05 at 09:39 IST on BSE after the company announced that it has received final approval for Efavirenz Tablets 600mg from US FDA.
The announcement was made after market hours yesterday, 19 June 2018.Meanwhile, the S&P BSE Sensex was up 87.98 points, or 0.25% to 35,374.72
On the BSE, 1.09 lakh shares were traded in the counter so far compared with average daily volumes of 1.87 lakh shares in the past two weeks. The stock had hit a high of Rs 622 and a low of Rs 610.50 so far during the day. The stock hit a 52-week high of Rs 663 on 7 November 2017. The stock hit a 52-week low of Rs 508.10 on 22 May 2018.
Cipla's Efavirenz Tablets 600mg is AB-rated generic therapeutic equivalent version of Bristol-Myers Squibb Pharma Company's, Sustiva. It is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults and in pediatric patients at least 3 months old and weighing at least 3.5 kg.
According to IQVIA (IMS Health), Sustiva and its generic equivalents had US sales of approximately $105 million for the 12-month period ended April 2018. The product is available for shipping immediately.
On a consolidated basis, Cipla reported net profit of Rs 153.25 crore in Q4 March 2018 as against net loss of Rs 62.79 crore in Q4 March 2017. Net sales rose 0.25% to Rs 3495.81 crore in Q4 March 2018 over Q4 March 2017.
Cipla is a global pharmaceutical company. Its portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.
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