Cipla jumps on completing phase-3 study of asthma drug
The shares of pharmaceutical company, Cipla Limited surged more than eight per cent on Friday after the company announced that it has successfully completed phase-3 of clinical end-point study for fluticasone propionate & salmeterol inhalation powder.
In an exchange filing, the company informed that fluticasone propionate & salmeterol inhalation powder 100/50 mcg, 250/50 mcg and 500/50 mcg are generic versions of GSK’s Advair Diskus. The product is used in the treatment of asthma patients of four years and above. It can be also used in treating chronic obstructive pulmonary disease (COPD) including chronic bronchitis, emphysema for better breathing and fewer flare-ups.
Adding to this, Cipla Ltd said that the above-mentioned product will now be filed with USFDA and the approval duration may extend longer than its usual one-year cycle due to the product’s complexity. Meanwhile, the phase-3 study was conducted over a period of 15 months at over hundred sites in US, involving more than 1,400 asthma patients.
At the time of market closing on Friday, the stock of Cipla Ltd was trading at Rs 449.10, up by 8.60 per cent against its previous close of Rs 413.55. Its 52-week high is recorded at Rs 585.50 while, its 52-week low is Rs 356.75 on BSE.