Cipla zooms 9% on launch of anti-asthma inhaler in Germany, Sweden

The pharmaceutical firm launched an anti-asthma inhaler in Germany and Sweden that is a generic version of GlaxoSmithKline Plc's Advair.

SI Reporter Mumbai
Last Updated : Sep 02 2014 | 9:36 AM IST
Cipla has rallied nearly 9% to Rs 575, also its record high on National Stock Exchange (NSE), after the pharmaceutical firm launched an anti-asthma inhaler in Germany and Sweden that is a generic version of GlaxoSmithKline Plc's Advair.

“In Germany the new product is distributed under the name “Serroflo”, whereas in Sweden the combination is launched as “Salmeterol/Fluticasone Cipla”, Cipla said in a statement.

“Over the next 12-18 months we will see a series of launches throughout Europe as we know that there is a common need for high quality, affordable, reliable and thus sustainable therapy-alternatives – and this is what Cipla stands  for” said Mr. Subhanu Saxena, Managing Director and Global CEO of Cipla.

The stock opened at Rs 534 and touched a low of Rs 534 in early morning deals on NSE. The counter has seen huge trading volume with a combined 1.93 million shares changed hands in first 15 minutes of trade on NSE and BSE.
 

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First Published: Sep 02 2014 | 9:30 AM IST

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