Cipla share price gains over 3% on USFDA approval

Cipla share price gains over 3% on USFDA approval

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Cipla share price gained more than 3 percent intraday on March 26 after the company received final USFDA approval for Esomeprazole.

The company has received final approval for its Abbreviated New Drug Application (ANDA) for Esomeprazole for Oral Suspension 10mg, 20mg and 40mg from the United States Food and Drug Administration (US FDA).

Cipla is the first company to file for the 10mg strength.

Esomeprazole is AB-rated generic therapeutic equivalent version of AstraZeneca Pharmaceutical’s Nexium.

According to IQVIA (IMS Health), Nexium and its generic equivalents had US sales of approximately  $70 million for the 12-month period ending November 2019.

The product is available for shipping immediately, the company said in release.

At 09:38 hrs, Cipla was quoting at Rs 385.00, up Rs 8.30, or 2.20 percent on the BSE.

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courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/cipla-share-price-gains-over-3usfda-approval_13614281.html

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