Cipla shares rally on anti-asthma inhaler launch in Germany

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    Shares in Cipla jumped sharply by 7 per cent after the pharma major launched an anti-asthma inhaler in Germany and Sweden. the stock was last trading at Rs 564 on the Bombay Stock Exchange.

    The inhaler is a generic version of GlaxoSmithKline Plc's Advair.

    Noted broking firm, Emkay Global upgraded the stock to "buy" from "accumulate" with a target of 671 rupees.

    Overall addressable opportunity of generic Advair is $800 million in Europe, Emkay said.

     

    Cipla shares were trading up 7.1 percent to 566.75 rupees as of 10:02 a.m.

    GoodReturns.in

    Read more about: cipla
    Story first published: Tuesday, September 2, 2014, 11:05 [IST]
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