Cipla shares rise after Vysov anti-diabetic drug acquisition
New Delhi: Shares of pharma company Cipla on Tuesday gained over 1 per cent after the firm acquired brand name and trademark rights of Vysov for anti-diabetic drug Vildagliptin.
On the BSE, the shares rose up to 1.61 per cent to Rs 466 per unit.
The stock gained as much as 1.73 per cent to trade at Rs 464.25 apiece on the NSE.
The homegrown pharma major on Monday said it has acquired brand name and trademark rights for Vysov for anti-diabetic drug Vildagliptin for the Indian market from Novartis.
Cipla has been co-marketing Vildagliptin in agreement with Novartis under brand names Vysov and Vysov M (Vildagliptin plus Metformin), the company said in a regulatory filing.
The market size of Vildagliptin in India is Rs 818 crore as per IQVIA MAT data of November 2019, Cipla said.