New Post has been published on http://news.aligarhkhabar.com/cipla-jumps-8-7-percent-after-key-generic-launch/
Cipla jumps 8.7 percent after key generic launch
Reuters Market Eye – Shares in Cipla Ltd on Tuesday rose as much as 8.7 percent to a record high of 575 rupees after the drugmaker launched an anti-asthma inhaler in Germany and Sweden.
The inhaler is a generic version of GlaxoSmithKline Plc’s Advair.
Emkay Global upgraded the stock to “buy” from “accumulate” with a target of 671 rupees.
Overall addressable opportunity of generic Advair is $800 million in Europe, Emkay said.
Cipla shares were trading up 7.1 percent to 566.75 rupees as of 10:02 a.m.
(Reporting by Abhishek Vishnoi)