Cipla and Amgen reach a settlement on pending litigation involving generic cinacalcet hydrochloride tablets

The civil action filed by Cipla Limited and Cipla USA Inc, wholly owned step-down subsidiary of Cipla Limited (hereinafter together referred to as "Cipla") in the U.S. District Court for the District of Delaware in January 2019 has been resolved as between Cipla and Amgen Inc. (hereinafter referred to as "Amgen"). A formal stipulation of dismissal has been filed with the Court and is awaiting signature by the presiding Judge. Cipla's action pertaining to Teva Pharmaceuticals Inc. remains pending. The resolution entitles Cipla and its affiliates to continue importing, marketing, and selling its generic cinacalcet hydrochloride tablets 30mg, 60mg and 90mg in the United States.

Cinacalcet hydrochloride tablets are indicated for the treatment of secondary hyperparathyroidism (HPT) in adult patients with chronic kidney disease (CKD) on dialysis, for the treatment of hypercalcemia in adult patients with Parathyroid Carcinoma, and for treatment of severe hypercalcemia in adult patients with primary HPT who are unable to undergo parathyroidectomy.

Shares of CIPLA LTD. was last trading in BSE at Rs.689 as compared to the previous close of Rs. 674.5. The total number of shares traded during the day was 798323 in over 12485 trades.

The stock hit an intraday high of Rs. 696.2 and intraday low of 669.55. The net turnover during the day was Rs. 547937729.

Source : Equity Bulls

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