Cipla breathes easy

Cipla is in a celebratory mood today morning, figuring in the top three gainers on the BSE currently. The stock opened with a gain of 10% at Rs.564.30 and rose to an intraday high at Rs.595, a jump up of 16% and a new 52-week high.

The company has received US Food and Drug Administration approval for the first generic Proventil HFA (albuterol sulfate) Metered Dose Inhaler, 90 mcg/Inhalation.

It is used for treatment of acute episodes of bronchospasm or prevention of asthmatic symptoms.

Albuterol is the first generic metered dose inhaler of Proventil® HFA Inhalation Aerosol ever approved by FDA in the US and Cipla’s first device-based inhalation product in the market.

This development puts Cipla in a position of strength as lung leader globally.

It plans to start shipments in a staggered manner.