Cipla surges on launch of anti-asthma inhaler in Germany, Sweden

MUMBAI: Shares of pharmaceutical firm Cipla today settled with over 5 per cent higher as the company launched its generic drug used for treatment of asthma and chronic obstructive pulmonary disease in Germany and Sweden.

After surging 8.58 per cent to Rs 575.20 -- its 52-week high level, shares of Cipla finally ended at Rs 557.40, up 5.23 per cent at the BSE.

On the NSE, the stock was up 5.38 per cent to Rs 557.60 at closing.

Led by the rally in the stock, the company's market value surged Rs 2,224.84 crore to Rs 44,754.84 crore.

The stock was the best performer among the blue-chips on both Sensex and Nifty during the day.

While the drug Salmeterol/Fluticasone MDI will be sold under the Serroflo brand in Germany, it will be marketed as Salmeterol/Fluticasone Cipla in Sweden, Cipla had said in a statement yesterday.

Serroflo will substantially improve the affordability of fixed combinations in Europe and help manage health costs for respiratory treatment, the company had said.

The product will be available in the strengths of 120 doses of 25/125 mcg salmeterol/fluticasone and 120 doses of 25/250 mcg salmeterol/fluticasone.