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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.
“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.
