Quote on Cipla Limited by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote on Cipla Limited by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Cipla receives final approval for the generic version of Novartis Pharmaceuticals Corporation Durezol.
Cipla Limited announced that the company has received final approval for its Abbreviated New Drug Application (ANDA) for Difluprednate Ophthalmic Emulsion 0.05% from the United States Food and Drug Administration (US FDA). Cipla’s Difluprednate Ophthalmic Emulsion 0.05% is AB-rated a generic therapeutic equivalent version of Novartis Pharmaceutical Corporation’s Durezol®. It is used for the treatment of inflammation and pain associated with ocular surgery and the treatment of endogenous anterior uveitis. According to IQVIA, Durezol® had US sales of approximately $106mn for the 12-month period ending June 2021. We have a positive outlook on Cipla Limited.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
