A US District Court has ordered the seizure of a drug made by Cipla and sold by Velecra. S Radhakrishnan, CFO, Cipla has clarified on CNBC-TV18 that they are in process of filing an appeal within the next 60 days.
Sanofi Aventis recently announced that a US Court has ordered the seizure of Frontline Plus, a drug produced by Cipla and sold by Velecra. On the back of this, the share price of Cipla has fallen around 1.5%.