Cipla Secures Exclusive Licensing For Innovative Ophthalmic Solution

Cipla, the Mumbai-based pharmaceutical company, has announced an exclusive licensing agreement with Taiwan's Formosa Pharmaceuticals to commercialise clobetasol propionate ophthalmic suspension.

Under the agreement, Cipla gains exclusive rights to market this innovative treatment for post-operative inflammation and pain following ocular surgery in 11 countries, including India, South Africa, Nepal, Sri Lanka, Bangladesh, Malaysia, Myanmar, Kenya, Nigeria, Argentina, and Colombia.

Clobetasol propionate ophthalmic suspension (0.05%), branded as APP13007, is a novel and patent-protected product approved by the USFDA. Its twice-daily dosing schedule over 14 days, with no tapering required, ensures effective and sustained relief from inflammation and pain. This groundbreaking steroid introduces significant advancements in the ophthalmic field, offering enhanced benefits to patients.

"The partnership with Formosa Pharmaceuticals marks a significant milestone for Cipla, as it is our first multi-regional licensing agreement in ophthalmology," Cipla Global Chief Operating Officer Achin Gupta said in a regulatory filing.

Erick Co., president and chief executive officer of Formosa Pharmaceuticals, said the company looks forward to working together to provide novel therapy to ocular surgery patients.

Shares of Cipla closed 1.08% higher at Rs 1,508.65 apiece on the National Stock Exchange, compared to a 1.45% rise in the benchmark Nifty. The stock has risen 1.36% in the last 12 months.

Out of 37 analysts tracking the company, 24 have a 'buy' rating on the stock, eight recommend 'hold' and five suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 9.3%.

(With PTI Inputs)