Cipla is in the spotlight today. The moment it opened, it rose 2% to Rs.592.15. The stock’s high and low is at Rs.663 and Rs.508.10 respectively.
The company announced today that it has received final approval for its Abbreviated New Drug Application (ANDA) for Isoproterenol Hydrochloride Injection USP, 0.2mg/mL, single-use sterile Ampoule from the United States Food and Drug Administration (US FDA). This is used for the treatment of heart ailments.
According to IQVIA (IMS Health), Isuprel Injection and its generic equivalents had US sales of approximately $148M for the 12-month period ending April 2018.
There was another good news – Cipla Quality Chemical Industries (CiplaCqCI), in which Cipla is a major shareholder, is planning on an IPO in Uganda. CiplaQCIL has been a major player in cancer treatment pioneering a number of various generic drugs for cancer in India and other parts of the world. Building on the gains made in increasing access to HIV/ AIDS and malaria treatments and faced with the growing burden of cancer in Uganda and Africa, CiplaQCIL, a local manufacturer of lifesaving drugs is once again intent on partnering with the government of Uganda to increase access to cancer treatments and give a ray of hope to thousands of cancer sufferers in the country.