|Day's Range||480.20 - 504.75|
|52 Week Range||459.00 - 621.25|
|PE Ratio (TTM)||35.14|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Indian drugmaker Cipla Ltd's third-quarter profit beat estimates due to higher sales in the United States, and the company said it was looking for licensing deals and acquisitions to build its speciality medicines pipeline in that market. The country's fifth-largest drugmaker by sales reported a roughly 21 percent rise in revenue from North America for the October-December period. Cipla bought two U.S. generic drug producers, Invagen and Exelan, for about $550 million last year in its first big move to expand in a market where most of its local peers already have a large presence.
Several companies, including Indian units of Abbott Laboratories and Pfizer Inc , and domestic firms like Cipla Ltd and Macleods Pharmaceuticals, went to the Delhi High Court to try to get the ban lifted. On Monday, judge Rajiv Sahai Endlaw moved the hearing into his chamber from a courtroom packed with lawyers and company executives. Archana Sachdeva, a lawyer representing Cipla among other firms, said he had ordered the next hearing on March 28.
U.S. and EU drug regulators called upon India's pharmaceutical sector on Tuesday to step up efforts to improve manufacturing standards and ensure the reliability of data if it is to maintain its dominance in the generic drugs industry. India's $15 billion pharmaceutical industry, an increasingly important global supplier of cheaper generic medicines, has been dogged by concerns over quality issues after the U.S. Food and Drug Administration banned a series of factories from producing medicines for the United States due to inadequate standards. The European Medicines Agency (EMA), and the UK's Medicines and Health Regulatory Authority (MHRA) also barred some Indian plants from producing drugs for their markets.