Pharma major Cipla spurted 10% to Rs 564.30 after the company received final approval for generic version of Proventil HFA Inhalation Aerosol (Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation).
In an exchange filing made before market hours today, Cipla said that it has received final approval for its abbreviated new drug application (ANDA) for Albuterol Sulfate Inhalation Aerosol 90mcg (base)/actuation, from the United States Food and Drug Administration (US FDA).
Cipla's Albuterol Sulfate inhalation aerosol is the first AB-rated generic therapeutic equivalent version of Merck Sharp & Dohme Corp's Proventil HFA Inhalation Aerosol. It is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms.
According to IQVIA (IMS Health), Proventil HFA Inhalation Aerosol and its authorized generic equivalent had US sales of approximately $153 million for the 12- month period ending February 2020.
The entire Albuterol Sulfate HFA Inhalation Aerosol market had US sales of approximately $2.8 Billion for the 12-month period ending February 2020.
Cipla manufactures and sells pharmaceutical and personal care products. The Company offers active pharmaceutical ingredients, and formulations in therapeutic areas, such as allergy, analgesic, anti malarial, anti-infectives, cardiology, dermatology and cosmeceuticals, diabetology, gastroenterology, steroids, iron chelators, nutritional products.
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