Cipla rose 0.62% to Rs 568 at 12:00 IST on BSE after the company announced the launch of quality-assured Rectal Artesunate Suppositories for severe malaria in young children.
The announcement was made after market hours yesterday, 25 July 2017.Meanwhile, the S&P BSE Sensex was up 100.74 points, or 0.31%, to 32,329.01.
On the BSE, 27,118 shares were traded in the counter so far, compared with average daily volumes of 1.84 lakh shares in the past one quarter. The stock had hit a high of Rs 569.40 and a low of Rs 562.65 so far during the day.
The stock had hit a 52-week high of Rs 621.90 on 6 February 2017. The stock had hit a 52-week low of Rs 479 on 26 May 2017.
The stock gained 4.37% over the past one month till 25 July 2017, outperforming the Sensex's 3.5% rise. The scrip had, however, underperformed the market in past one quarter, rising 2.11% as against Sensex's 7.63% rise. The scrip had also underperformed the market in past one year, gaining 7.61% as against Sensex's 14.71% rise.
The large-cap pharmaceutical company has equity capital of Rs 160.93 crore. Face value per share is Rs 2.
Cipla and the product development partnership Medicines for Malaria Venture (MMV) announced the launch of 100 mg Artesunate Rectocaps/Rectal Artesunate Suppositories (RAS), a life-saving, pre-referral intervention for the management of severe malaria in young children.
Initially developed by the World Health Organization's (WHO) Tropical Diseases Research programme, RAS 100 mg manufactured by Cipla was recently added to the Global Fund Expert Review Panel's list of quality-assured medicines, while the process of WHO prequalification of this medicine moves through its final stages. This authorization makes it the first quality-assured RAS product.
Cipla's RAS product contains 100 mg of Artesunate and is indicated in children from 6 months to 6 years. It was developed with the support of MMV (with UNITAID financing) and will now soon be available in four sub-Saharan countries.
Meanwhile, shares of Cipla turned ex-dividend today, 26 July 2017, for dividend of Rs 2 per share for the year ended 31 March 2017 (FY 2017).
The company will announce Q1 results on 11 August 2017. Cipla reported consolidated net loss of Rs 61.79 crore in Q4 March 2017 compared with loss of Rs 92.83 crore in Q4 March 2016. Cipla's net sales rose 7.2% to Rs 3487.04 crore in Q4 March 2017 over Q4 March 2016.
Cipla is a global pharmaceutical company.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
