Cipla rose 3.3% at Rs.612.55 and it remains firmly in the green. The stock’s 52-week high and low is at Rs.663 and Rs.479 respectively.

For once, instead of bad news from US FDA, it is good news. Cipla announced today morning that t it has received final approval for its Abbreviated New Drug Application (ANDA) for Budesonide Inhalation Suspension from the FDA, to market a generic version of Astrazeneca’s Pulmicort Respules.

Cipla’s Budesonide Inhalation Suspension are AN-rated generic equivalents of Astrazeneca’s Pulmicort Respules and are indicated for the maintenance treatment of asthma and as prophylactic therapy in children 12 months to 8 years of age.

The product is available for shipping immediately.

Pulmicort Respules and generic equivalents had U.S. sales of approximately $825M for the 12- month period ending September 2017, as reported by IMS Health.