Updated on 28 Dec 2016
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Companies having good brands have provided best returns
Cipla gained 5% to Rs 589, bouncing back 6.5% from intra-day low on the BSE, after the pharmaceutical company said its flagship product Sereflo received final approval from UK health regulator.
“The company has received a final approval for its lead metered dose inhaler (MDI) product Fluticasone + Salmeterol (Sereflo) from Medicine and Healthcare Products Regulatory Agency, UK, (UKMHRA) for its partner in the UK," Cipla said in a release.
According to IMS Health, Seretide inhaler, for the aforementioned strengths, had UK sales of approximately $ 278 million for the 12 month period ending June 2016.
At 03:11 pm; the stock was up 3.5% at Rs 580, after hitting an intra-day low of Rs 553 on the BSE. The trading volumes on the counter more than doubled with a combined 2.32 million shares changed hands on the BSE and NSE so far.