Cipla is currently the top gainer on the BSE, opening over 0.5% higher at Rs.865.95 and rising 2.5% to hit an intraday high at Rs.881.05. Its 52-week high is at Rs.1005.

The market has reacted positively to its subsidiary, Cipla USA, receiving the US FDA final approval for its Lanreotide Injection.

The FDA approval was based on a New Drug Application (NDA).  Lanreotide Injection is indicated for the treatment of patients with Acromegaly and Gastroenteropancreatic Neuroendocrine Tumors.

The active ingredient, route of administration and strengths are the same as Somatuline Depot, from Ipsen Biopharmaceuticals Inc. According to IQVIA, Somatuline Depot had US sales of approximately $867M for the 12-month period ending October 2021.