Cipla Ltd on Thursday reported a net profit of Rs 292 crore for the quarter ended March 31, compared to Rs 214 crore, a rise of 36 per cent. Gross revenue grew by 12 per cent to Rs 1,890 from Rs 1,687 crore.
German pharma major Bayer has charged that Indian generic drugmaker Cipla had breached its patent rights by slashing the price of a generic version of its patent-protected cancer drug Nexavar last week.
The BSE Healthcare index has performed in-line with the BSE benchmark index during the fourth quarter of FY12, the Sensex, rising 13% as compared to 12.6% rise in the Sensex.
Generic drugmaker Cipla is looking into cutting prices of more cancer drugs after it slashed the prices last week of three treatments by up to 75%, Y.K. Hamied, the company's chairman and managing director, said in an interview.
Cipla stumped most of the players in the anti-cancer drug segment by amassive cut in prices of its anti-cancer drugs. While taking the competition head-on with a bold cut in prices, it has also provided much needed respite to the patients.
Cipla is trading higher by 3% at Rs 326 after the company slashed the price of its generic version of Bayer's cancer drug Nexavar by 75%, which will now be available at Rs 6,840 for a month's supply, down from Rs 28,000 earlier.
Drugmaker Cipla cut the price of its generic version of Bayer's cancer drug Nexavar by 75 percent, nearly two months after India allowed another drugmaker to make a cut-rate version of the drug over Bayer's objections.
China's annual inflation spiked unexpectedly in March to 3.6% driven by rising food prices, data showed on Monday, surprising investors who had bet on cooling price pressures to give Beijing room to ease monetary policy.
Cipla has surged 6% to Rs 303 ahead of the Group of Ministers (GoM) meeting tomorrow to examine the proposed National Pharmaceutical Pricing Policy (NPPP) prepared by the ministry of chemicals and fertilisers.
Cipla’s stock has fallen 14 per cent from its 52-week high of Rs 359 on February 7, 2012 on slower exports in the December quarter, muted export guidance of 10 per cent for the coming quarter, and demand notice of Rs 424 crore by the sector
Cipla is trading lower by 2% at Rs 312 after the pharmaceutical company said it has received demand notices for Rs 424.64 crore from the National Pharmaceutical Pricing Authority (NPPA) towards interest for alleged drug overpricing.
Drug major Cipla today said it has received demand notices for Rs 424.64 crore from the National Pharmaceutical Pricing Authority (NPPA) towards interest for alleged drug overpricing.
Cipla has dipped 4% at Rs 328 after reporting lower-than-expected 16% year-on-year (yoy) growth in net profit at Rs 270 crore for the third quarter ended December 31, 2011, due to increase in staff cost and rise in selling expenses.
Strong growth performance of generic drug sales in the US market helped Indian pharmaceutical companies record 17-19 per cent year-on-year growth in revenues for the September 2011 quarter.
The benchmark indices are trading in a sideways manner this afternoon. The Sensex is at 17112, lower by six points and the Nifty is at 5134, down 13 points.
