Share price of Cipla rose 1.6 percent intraday Monday as company received final approval from USFDA.
The company has received final approval for its abbreviated new drug application (ANDA) for Metoprolol ER Tablets 50mg, 100mg, 200mg from the USFDA (United States Food and Drug Administration).
The Metoprolol ER Tablets is AB-rated generic therapeutic equivalent version of Aralez Pharmaceuticals, Inc.’s, Toprol XL.
Metoprolol succinate extended-release tablets are indicated for the treatment of hypertension, to lower blood pressure, Angina Pectoris, heart failure - for the treatment of stable, symptomatic (NYHA Class II or III) heart failure of ischemic, hypertensive, or cardiomyopathic origin.
Toprol XL and its generic equivalents had US sales of approximately USD 464M for the 12-month period ending August 2018, as per IQVIA (IMS Health).
At 09:45 hrs Cipla was quoting at Rs 611.30, up Rs 7.85, or 1.30 percent on the BSE.
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