Cipla gains on tying up with CSIR-CDRI
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Cipla is currently trading at Rs. 1438.20, up by 15.35 points or 1.08% from its previous closing of Rs. 1422.85 on the BSE.
The scrip opened at Rs. 1434.85 and has touched a high and low of Rs. 1444.05 and Rs. 1427.65 respectively. So far 20544 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1462.20 on 13-Feb-2024 and a 52 week low of Rs. 852.00 on 22-Mar-2023.
Last one week high and low of the scrip stood at Rs. 1462.20 and Rs. 1410.80 respectively. The current market cap of the company is Rs. 116179.04 crore.
The promoters holding in the company stood at 33.47%, while Institutions and Non-Institutions held 49.99% and 16.53% respectively.
Cipla has tied up with CSIR-Central Drug Research Institute (CDRI) to jointly develop a novel ophthalmic formulation for fungal keratitis. The collaboration aims to leverage the combined expertise and resources of both organisations to develop a safe and efficacious drug for fungal keratitis.
CSIR-CDRI has developed a prototype formulation for an anti-fungal drug to optimise its delivery in the eye. In pre-clinical studies, this formulation supports faster resolution of the infection. Cipla will scale up the product, conduct the required studies and seek regulatory approvals for commercialisation, ensuring accessibility for those in need, according to the statement.
Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients.
