Neal Bhai Reports (NBR) — Cipla Rises On U.S. FDA Nod For Immunodeficiency Drug – Shares of the Mumbai-based drugmaker rose as much as 6.47 percent to Rs 622.75 after U.S. FDA gave its final approval to Efavirenz tablets in strength of 600 mg. Efavirenz Tablets 600 mg is AB-rated generic therapeutic equivalent version of Bristol-Myers Squibb Pharma Company’s Sustiva which is used in treatment of human immunodeficiency virus type 1 infection, Cipla said in an exchange filing.
According to IMS Health Sustiva had U.S. sales of approximately $105 million for the 12-month period ending in April 2018, the filing added.
Wheels India Surges On Plan To Consider Bonus Issue
Shares of the Chennai-based wheel maker rose as much as 12 percent, the most in a month, to record high of Rs 2,658.95.
Wheels India informed exchanges that its board will meet on June 22 to consider issuing bonus shares.
Power Grid Struggles After Block Deal
Power Grid has 14.7 lakh shares change hands in a single block. Stock down 0.6 percent to Rs 197.
