Cipla gets final nod for generic therapeutic equivalent of Tecfidera; stock opens 1.52 per cent higher
Cipla Limited today announced that it has received final approval for its abbreviated new drug application (ANDA) for Dimethyl Fumarate DR Capsules 120mg, 240mg, and 120mg/240mg starter pack from United States Food & Drug Administration (USFDA).
Cipla’s Dimethyl Fumarate DR Caps 120mg, 240mg, and 120mg/240mg starter pack is an AB-rated generic therapeutic equivalent version of Biogen IDEC Inc’s Tecfidera. It is used in the treatment of relapsing forms of multiple sclerosis in adults. Multiple sclerosis a disease of the brain and spinal cord i.e. central nervous system. It results in the immune system attacking the protective sheath that covers nerve fibers and causes communication problems between your brain and the rest of your body.
According to IQVIA (IMS Health), Tecfidera had US sales of approximately USD 3.8 billion for the 12-month period, ending July 2020. The global market of multiple sclerosis drugs was estimated to be around USD 25 billion in 2019. It is projected to show a CAGR growth of 7.1 per cent and thereby, reach USD 40.66 billion by 2027. Biogen is the leading player in the sales of MS treatment medicine.
Cipla opened today at Rs 744, which is 1.52 per cent higher than its previous day’s close price.