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16-Apr2019

Cipla rises with its arm inking definitive agreement with Pulmatrix

Cipla is currently trading at Rs. 566.75, up by 0.65 points or 0.11% from its previous closing of Rs. 566.10 on the BSE.

The scrip opened at Rs. 567.10 and has touched a high and low of Rs. 571.45 and Rs. 566.00 respectively. So far 7778 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 678.00 on 19-Sep-2018 and a 52 week low of Rs. 483.75 on 29-Jan-2019.

Last one week high and low of the scrip stood at Rs. 571.45 and Rs. 531.95 respectively. The current market cap of the company is Rs. 45610.75 crore.

The promoters holding in the company stood at 36.70%, while Institutions and Non-Institutions held 39.60% and 23.69% respectively.

Cipla's subsidiary -- Cipla Technologies LLC and Pulmatrix, Inc., a clinical stage biopharmaceutical company has entered into a definitive agreement for the co-development and commercialization of Pulmazole (PUR1900) - an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

Following the Definitive Agreement, Cipla Technologies will make an upfront payment of $22 million to Pulmatrix in exchange for assignment of all rights for Pulmazole in relation to pulmonary indications to Cipla Technologies. Thereafter, both parties will equally share costs related to the future development and commercialization of Pulmazole, and equally share worldwide free cash flow from future sales of Pulmazole.

Cipla is a global pharmaceutical company which uses cutting edge technology and innovation to meet the everyday needs of all patients. The company's portfolio includes over 1500 products across wide range of therapeutic categories with one quality standard globally.


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