Share Market Live

NSE

Pharmaceutical company Cipla Ltd. and its wholly owned subsidiary Cipla USA Inc. on Tuesday announced the launch of Leuprolide Acetate Injection Depot 22.5 mg, which is used to treat advanced prostate cancer.

Leuprolide Acetate Depot is given as a single-dose injection. The product was approved by the US Food and Drug Administration (USFDA) based on a new drug application submitted by the company.

Also Read: Cipla's Goa unit continues to remain under OAI classification from the USFDA

The active ingredient, route of administration, dosage form, and strength of the injection are the same as Lupron Depot 22.5 mg strength from US-based biopharma company AbbVie. According to IQVIA data, in the United States, Lupron Depot 22.5 mg had sales of approximately $197 million for the 12-month period that ended in September 2022.

After the launch, Cipla shares rose as much as 2.2 percent to hit a high of Rs 1,125. Over the past year, the stock has gained over 16 percent compared to a 9.5 percent rise in the benchmark Sensex index during the same period.

The Cipla stock is currently trading at Rs 1,115, up 1.20 percent.

Also Read: Cipla meets Street estimates with 11% rise in quarterly profit driven by US business

(Edited by : Rukmani Krishna)