Cipla rallies nearly 3% on getting US patent for stemcell product

NEW DELHI: Cipla Ltd rallied as much as 2.7 per cent in trade on Thursday, after Stempeutics Research received a process patent from the United States Patent and Trademarks Office for its novel stem cell-based drug Stempeucel, said media reports.

The company is part of the Manipal Education and Medical Group and drugmaker Cipla entered into a joint alliance with it in 2009.

At 09:40 a.m.; Cipla was trading 2.4 per cent higher at Rs 742.20. It hit a low of Rs 725 and a high of Rs 744.90 in trade today.

The reported further added that the drug will initially be used for the treatment of Critical Limb Ischemia (CLI), the companies said in a joint note, adding that the treatment option directly addresses the root cause of the disease, unlike others that treat the symptoms and not the disease.