Cipla - ANDA approval - Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

"Cipla Limited today announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Dimethyl Fumarate DR Capsules 120mg, 240mg and 120mg/240mg Starter Pak from the United States Food and Drug Administration (US FDA). Cipla's Dimethyl Fumarate DR Caps 120mg, 240mg and 120mg/240mg Starter Pak is AB-rated generic therapeutic equivalent version of Biogen IDEC Inc.'s Tecfidera®. It is indicated for the treatment of relapsing forms of multiple sclerosis (MS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults. According to IQVIA (IMS Health), Tecfidera® had US sales of approximately $3.8 Billion for the 12-month period ending July 2020. This is a very big positive development for the company."

Shares of CIPLA LTD. was last trading in BSE at Rs.732.8 as compared to the previous close of Rs. 766.9. The total number of shares traded during the day was 244392 in over 5563 trades.

The stock hit an intraday high of Rs. 766.25 and intraday low of 729.65. The net turnover during the day was Rs. 183290264.

Source : Equity Bulls

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