The stock was up 5% at Rs 540 on the NSE, as compared to 0.57% fall in the Nifty 50 index at 12:49 pm.
Overall revenue of Cipla falls 6%; international business drops 14%
Cipla's April-June net profit was 3.65 billion rupees, compared with 6.49 billion rupees a year earlier
Earlier, he has worked with Pepsi India and Thermax Group
The case pertains to 2003 when Cipla received a demand notice from the National Pharmaceutical Pricing Authority for alleged overcharging of drugs covered under price cap
Cipla Biotech, a subsidiary of the company, will construct the plant at a special economic zone in Durban and will commence production in 2018
Cipla has missed analysts' expectation by 30 per cent at the EBITDA level for the year
The stock dipped 7% to Rs 460, also its 52-week low on the BSE.
Cipla's Ebitda also declined nearly 57% to Rs 219 crore
Consolidated total income from operations of the company stood at Rs 3,266.54 crore for the quarter under consideration
Company aims to build five Rs 100 cr-plus brands and launch products from South African arm in domestic market
Company in May 2014 had invested $1.5 million to acquire 14.6% stake in Chase Pharmaceuticals
Shares of Cipla today closed at Rs 517.50 per scrip on BSE, up 0.49% from the previous close
The acquisition of InvaGen and Exelan will boost Cipla's US business which currently accounts for 8% of its revenue