John Porter, chief business officer at brokerage Renaissance Capital, told Reuters interest came from local and international investors.
Commenting on the development, Cipla South Africa CEO Paul Miller said DTG is considered a best-in-class medicine providing many clinical benefits for people living with HIV.
Centrum is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 750 in its research report dated August 09, 2018.
Capecitabine tablets are indicated in patients with colon cancer and for the treatment of patients with metastatic breast cancer after failure of prior anthracycline-containing chemotherapy.
Drug major Cipla yesterday posted a 10 per cent increase in its consolidated net profit to Rs 451 crore for the first quarter ended June 30, driven by robust sales across various markets.
The analysts polled by Reuters estimated the company's revenue to rise 18.21% on year to Rs 4,057.4 crore for the quarter
Citing IQVIA data, the company said Voltaren Gel and its generic equivalents had US sales of approximately $353 million for the 12 month period ending June 2018.
Net Sales are expected to increase by 9.5 percent Y-o-Y (up 4.4 percent Q-o-Q) to Rs. 3,859.1 crore, according to Kotak.
The transaction required approval by the South African Competition Commission and is expected to be completed before September 30, 2018.
The company has received final approval for its abbreviated new drug application (ANDA) for Testosterone Cypionate injection in the strengths of 100mg/ml and 200mg/ml from the US Food and Drug Administration (USFDA), Cipla said in a filing to BSE.
The Mumbai-based firm has received final nod from the United States Food and Drug Administration (USFDA) for its abbreviated new drug application (ANDA) for Efavirenz tablets in 600mg strength, Cipla said in a statement.
Going forward, it expects the Sensex EPS to be Rs 1,870 for FY19 and Rs 2,241 for FY20, an increase of 36 and 20 percent, respectively.
The company has received final approval from the United States Food and Drug Administration (USFDA) for its product which is a generic version of Hospira Inc's Isuprel injection, Cipla said in a statement.
Cipla expects to start commercialising Basaglar in India by end of this year.
Dolat Capital recommended accumulate rating on Cipla with a target price of Rs 585 in its research report dated May 22, 2018.
ICICI Direct recommended hold rating on Cipla with a target price of Rs 530 in its research report dated May 23, 2018.
JM Financial is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 600 in its research report dated May 23, 2018.
JM Financial is bullish on Cipla has recommended buy rating on the stock with a target price of Rs 1440 in its research report dated May 23, 2018.
KR Choksey recommended accumulate rating on Cipla with a target price of Rs 607 in its research report dated May 23, 2018.
Brokerage houses remained positive on the stock, but slashed target prices following cut in earnings estimates.
The operating profit margin expanded 100 basis points to 15.1 percent in Q4 from 14.1 percent in Q4FY17.
Cipla is likely to report a net profit of Rs 356.7 crore in the fourth quarter of FY18, according to estimates of Reuters poll of analysts.
"Under this agreement, Cipla will get exclusive marketing rights for five years in India for critical limb ischemia due to atherosclerotic peripheral arterial disease (CLI-PAD) with Stempeutics manufacturing and supplying the product to Cipla," the company said in a statement.
“Failing to breakout 10,780 may push the Nifty into consolidation,” said Jaydeb Dey, Technical Analyst at Stewart & Mackertich Wealth Management
Under the agreement, Cipla is responsible for obtaining regulatory approvals to distribute Afrezza in India, including approval from the Drug Controller General of India (DCGI), while MannKind will manufacture and supply the drug