Shares of pharmaceutical company Cipla Ltd. gained nearly 5 percent after one of its flagship product, Sereflo, received final approval from the U.K. Medicines and Healthcare Products Regulatory Agency.
The product will be launched in the U.K. through a partner company in the coming weeks, Cipla said in a media statement.
Sereflo is a generic equivalent to GlaxoSmithKline's Seretide Inhalers, which are prescribed to asthma patients. It is a combination of two drugs i.e Fluticanose and Salmeterol in different quantities. It will be available in two variants of 25 mcg/125 mcg and 25 mcg/250 mcg.
According to IMS Health, GlaxoSmithKline’s Seretide had a $278 miilion market over the 12-month period ending June 2016.
We are extremely pleased with the approval of Sereflo in the U.K. This is a testament of Cipla’s relentless efforts in the respiratory field for over a decade. This reinforces Cipla’s commitment to make a difference in the life of patients with its innovative products. Sereflo will help patients with moderate to severe asthma breathe better.Umang Vohra, MD and Global CEO, Cipla
The company’s stock closed 3.7 percent higher at Rs 581.1 on the Bombay Stock Exchange.
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