Cipla share price rallies 3% on USFDA nod to generic HIV drug
Cipla share price rallied over 3 per cent after the drug major received approval from the US health regulator to market Efavirenz tablets. These tablets are used to treat HIV-1 infections in adults.
Reacting to the news, the stock gained as much as 3.27 per cent to Rs 622 on the BSE.
The Mumbai-based firm has received final nod from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Efavirenz tablets in 600mg strength, Cipla said in a statement.
The product is available for shipping immediately, it added.
WATCH ZEE BUSINESS VIDEO HERE
Cipla's product is the generic version of Bristol-Myers Squibb Pharma Company's Sustiva which is indicated in combination with other antiretroviral agents for the treatment of human immunodeficiency virus type 1 infection in adults.
As per IQVIA (IMS Health), Sustiva and its generic equivalents had US sales of around USD 105 million for the 12-month period ending April 2018.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.