InvestorQ : Cipla has rallied sharply so how do you see the stock as a buy candidate now? What has moved up the stock so sharply in last 20 days?
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Cipla has rallied sharply so how do you see the stock as a buy candidate now? What has moved up the stock so sharply in last 20 days?

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Angel dcosta answered.
2 years ago
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Cipla has rallied more than 55% from its recent low of March. In fact on 09 April, the shares Cipla gained as much as 16% after it received approval from the US Food and Drug Administration (US-FDA) for its generic version of Proventil HFA Inhalation Aerosol drug. CIPLA has filed with the exchange that it had secured final approval for its abbreviated new drug application (ANDA) for Albuterol Sulfate Inhalation Aerosol 90mcg from the USFDA. The drug is the first AB-rated generic equivalent version of Merck Sharp & Dohme's Proventil HFA Inhalation Aerosol and is used to treat acute episodes of bronchospasm and for the prevention of asthmatic symptoms. This helps CIPLA strengthen its presence in the US market. Generally, in the midst of the pandemic, any specific respiratory drug approval has been seen positively by the markets.

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