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Cipla gains on receiving USFDA’s final approval for Sumatriptan Nasal Spray

Cipla gains on receiving USFDA’s final approval for Sumatriptan Nasal Spray

Cipla is currently trading at Rs. 800.10, up by 10.60 points or 1.34% from its previous closing of Rs. 789.50 on the BSE.

The scrip opened at Rs. 795.00 and has touched a high and low of Rs. 801.40 and Rs. 790.55 respectively. So far 35726 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 878.55 on 03-Feb-2021 and a 52 week low of Rs. 356.75 on 13-Mar-2020.

Last one week high and low of the scrip stood at Rs. 820.35 and Rs. 740.00 respectively. The current market cap of the company is Rs. 64045.06 crore.

The promoters holding in the company stood at 36.70%, while Institutions and Non-Institutions held 40.05% and 23.25% respectively.

Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Sumatriptan Nasal Spray, 20 mg from the United States Food and Drug Administration (USFDA).Cipla’s Sumatriptan Nasal Spray USP, 20 mg is an AB-rated generic therapeutic equivalent version of GlaxoSmithKline’s Imitrex Nasal Spray. Imitrex Nasal Spray is a serotonin (5-HT1B/1D) receptor agonist (triptan) indicated for acute treatment of migraine with or without aura in adults. According to IQVIA (IMS Health), Imitrex Nasal Spray 20mg and its generic equivalents had US sales of approximately $53.3M for the 12-month period ending December 2020.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.