Cipla receives final USFDA approval for Efavirenz

Multinational pharma company, Cipla posted a 3 per cent hike in its share price as the company received final approval for its new drug application (ANDA) for Efavirenz tablets 600mg from the United States Food and Drug Administration (USFDA).
 
Efavirenz tablets is AB-rated generic therapeutic equivalent version of Bristol-Myers Squibb’s Sustiva. It is indicated in combination with other antiretroviral agents 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 hit an intraday low of Rs. 606 per share and an intraday high of Rs. 622 per share on BSE. It had touched its 52-week low of Rs. 508 per share on May 26, 2017 and its 52-week high of Rs. 663 per share on November 7, 2017 on BSE, respectively.
 
At 1:24 hours IST, the stock was trading at Rs. 605.25 per share up by 0.44 per cent on BSE on Wednesday. The S&P BSE Sensex was trading at 35,521 level, up by 0.66 per cent and NSE Nifty50 trading at 10,769.35 level up by 0.55 per cent.