Cipla jumps 8.7 percent after key generic launch

Reuters Market Eye - Shares in Cipla Ltd on Tuesday rose as much as 8.7 percent to a record high of 575 rupees after the drugmaker launched an anti-asthma inhaler in Germany and Sweden.

The inhaler is a generic version of GlaxoSmithKline Plc's Advair.

Emkay Global upgraded the stock to "buy" from "accumulate" with a target of 671 rupees.

Overall addressable opportunity of generic Advair is $800 million in Europe, Emkay said.

Cipla shares were trading up 5.2 percent to 556.55 rupees as of 3:16 p.m.

(Reporting by Abhishek Vishnoi)