Shares of Cipla Climbed Over 3 % After It Received Approval from USFDA
On Wednesday, during morning trade Cipla climbed over 3 per cent. This was after when the company informed the stock exchange about its Approval from USFDA for an HIV treatment drug Efavirenz.
The company disclosed that this drug will be the generic therapeutic equivalent version of Bristol-Myers Squibb Pharma Company’s, Sustiva. As per IQVIA, Sustiva and its generic equivalents had US sales of approximately $105M for the 12-month period ending April 2018. The drug is immediately available for shipping.
Cipla has received final approval for its abbreviated new drug application for the drug named Efavirenz. United States Food and Drug Administration approved the Efavirenz tablets 600mg. Efavirenz tablets are AB-rated generic therapeutic equivalent version of Bristol-Myers Squibb Pharma Company’s, Sustiva.
The company informed that this drug is mainly used for the treatment of human immunodeficiency virus type 1 infection in adults and in pediatric patients at least 3 months old and weighing at least 3.5 kg.
On Wednesday, the stock rose 3.27 per cent to hit a high of Rs 622 on BSE.