Cipla Shares Gain 2% On Partnership With A German Firm For Anti-Diabetic Drugs
The stock has rallied 72 percent in last three months as pharma sector has been in focus during COVID-19 crisis
Jun 29, 2020 / 03:28 PM IST
Shares of Cipla gained 2 percent intraday on June 29 after the company said it will will co-market three oral anti-diabetic drugs in partnership with a German firm.
The stock has rallied 72 percent in last three months as pharma sector has been in focus during COVID-19 crisis.
On June 29, it was quoting at Rs 644.20, up 1.50 percent, on the BSE at 14:57 hours IST.
Cipla and Boehringer Ingelheim India announced their partnership in India to co-market three new oral anti-diabetics drugs Oboravo (Empagliflozin), Oboravo Met (Empagliflozin+Metformin) and Tiptengio (Empagliflozin+Linagliptin).
"Diabetes continues to be a focus area for Cipla and with a strategic partnership with Boehringer Ingelheim coupled with our strong brand building, patient access and reach capabilities, we will be at the forefront of providing holistic diabetes care," Nikhil Chopra, Executive Vice President & CEO - India Business at Cipla said.
Empagliflozin is approved for glucose-control in patients with type-2 diabetes; it is also approved for reducing the risk of cardiovascular death, in patients with type-2 diabetes and established cardiovascular disease.
The Empagliflozin + Metformin combination Oboravo Met can be given to newly-diagnosed patients of type-2 diabetes who have higher baseline HbA1c levels, while the Empagliflozin + Linagliptin combination Tiptengio is the world's first approved combination of an SGLT-2 inhibitor and DPP4 inhibitor, said Cipla in its BSE filing.
Recently, Cipla launched Cipremi (remdesivir lyophilised powder for injection 100 mg), the only US FDA approved Emergency Use Authorisation (EUA) treatment for patients with severe COVID-19 disease.