Cipla bags USFDA approval for Isoproterenol Hydrochloride injection
The share price of Cipla surged by nearly 2 per cent in the early trade on Thursday as the company received the USFDA approval for Isoproterenol Hydrochloride injection, a generic version of Hospira Inc’s Isuprel injection.
The Isuprel Injection and its generic equivalent had recorded sales of around US$ 148 million in the US markets for the 12 months ending April 2018. The injection is indicated to be used for severe episodes of cardiac arrest and heart block until electric shock or pacemaker therapy is provided to the patient.
In Thursday’s trade, the stock hit an intraday high of Rs. 592.15 per share and an intraday low of Rs. 583.35 per share on BSE. The stock had touched its 52-week high of Rs. 663 per share on November 07, 2017 and its 52-week low of Rs. 508.10 per share on May 05, 2018 on BSE, respectively.
At 12:12 hours IST, the stock was trading at Rs. 586.75 per share, up by 0.95 per cent on BSE on Thursday. Meanwhile, Indian benchmark indices S&P BSE Sensex was trading at 35,506 level, down by 0.65 per cent and NSE Nifty50 was trading at 10,776.90 level, down by 0.74 per cent.