Cipla is in a celebratory mood today morning, figuring in the top three gainers on the BSE currently. The stock opened with a gain of 10% at Rs.564.30 and rose to an intraday high at Rs.595, a jump up of 16% and a new 52-week high.
The company has received US Food and Drug Administration approval for the first generic Proventil HFA (albuterol sulfate) Metered Dose Inhaler, 90 mcg/Inhalation.
It is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms.
Albuterol is the first generic metered dose inhaler of Proventil® HFA Inhalation Aerosol ever approved by FDA in the US and Cipla’s first device-based inhalation product in the market.
This development puts Cipla in a position of strength as lung leader globally.
It plans to start shipments in a staggered manner.