Cipla rose 1.07% to Rs 649.50 at 12:16 IST on BSE after the company said it is ready to launch low-dose Efavirenz 400 milligram drug as a first-line initial therapy for HIV infection.
The announcement was made during trading hours today, 30 November 2015.
Meanwhile, the BSE Sensex was up 29.28 points, or 0.11%, to 26,157.48.
On BSE, so far 37,000 shares were traded in the counter, compared with an average volume of 1.34 lakh shares in the past one quarter.
The stock hit a high of Rs 649.80 and a low of Rs 639.05 so far during the day. The stock hit a record high of Rs 752.45 on 10 March 2015. The stock hit a 52-week low of Rs 572 on 15 June 2015.
The stock had underperformed the market over the past one month till 27 November 2015, sliding 6.10% compared with 4.13% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 2.81% as against Sensex's 0.39% decline.
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The large-cap company has an equity capital of Rs 160.62 crore. Face value per share is Rs 2.
Cipla announced its readiness to supply its combinations Tenofovir/ Emtricitabine / Efavirenz and Tenofovir/ Lamivudine /Efavirenz with a dose of 400 milligram (mg) of Efavirenz as a first-line initial therapy for HIV infection.
Studies now support the use of Efavirenz 400 mg as a substitute for Efavirenz 600 mg in cases where there is no co-infection with tuberculosis. Efavirenz 600 mg is currently used in antiretroviral therapy (ART) and is highly effective. However, it is known to have significant side effects, which can be very distressing for those taking it for treatment of HIV infection. Efavirenz 400 mg, with the same efficacy, is much better tolerated. It is expected that this improved formulation will help improve patient adherence as well as significantly reduce the cost of treatment. In addition it will also significantly reduce the pill size, the company said in a statement.
On a consolidated basis, net profit of Cipla rose 44.38% to Rs 431.24 crore on 27.83% rise in net sales to Rs 3361.73 crore in Q2 September 2015 over Q2 September 2014.
Cipla is a global pharmaceutical company. The company's portfolio includes over 1,500 products in various therapeutic categories with one quality standard globally.
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