Cipla gains 2% on USFDA approval for asthma drug
Shares of Cipla rose more than 2 percent in the early trade Friday on the back of USFDA approval for Budesonide Inhalation Suspension.
The company has received final approval for its abbreviated new drug application (ANDA) for Budesonide Inhalation Suspension, 0.25mg/2mL, 0.5mg/2mL, and 1mg/2mL from the United States Food and Drug Administration (USFDA) to market a generic version of Astrazeneca’s Pulmicort Respules.
Budesonide Inhalation Suspension is indicated for the maintenance treatment of asthma and as prophylactic therapy in children 12 months to 8 years of age.
The product is available for shipping immediately.
According to IMS Health data, Pulmicort Respules and generic equivalents had US sales of approximately USD 825 million for the 12-month period ending September 2017.
At 09:28 hrs Cipla was quoting at Rs 603, up Rs 10.00, or 1.69 percent on the BSE.
The share touched its 52-week high Rs 663 and 52-week low Rs 504.15 on 07 November, 2017 and 26 May, 2017, respectively.
Posted by Rakesh Patil