Cipla gains 3% on USFDA's final approval for Lanreotide injection

ICICI Securities remains positive on Cipla's calibrated approach of focusing more on branded products and core therapies across the world

Shares of Cipla gained 3% to Rs 887.85 on the BSE in Monday's intra-day trade after the company received the United States Food and Drug Administration's (USFDA) final approval for its Lanreotide injection.

Lanreotide Injection is supplied in 60 mg/0.2 mL, 90 mg/0.3 mL, and 120 mg/0.5 mL single dose pre-filled syringes. It is indicated for the treatment of patients with Acromegaly and Gastroenteropancreatic Neuroendocrine Tumors.

The management said this approval is a significant step for company's US business and is in-line with our aspiration to continue growth in our complex product pipeline and address unmet patient needs.