Cipla to sell 33.5% equity stake in a drug company
The intended sale of about 33.5% equity in Cipla, a prominent pharmaceutical company is now facing challenges.
Stay updated with the latest news and articles about Cipla.
The intended sale of about 33.5% equity in Cipla, a prominent pharmaceutical company is now facing challenges.
On January 31, the department conducted a investigation against the firm.
The pharmaceutical company reported a 5.6 percent year-over-year increase in its consolidated operating revenue to Rs 5,828.4 crore.
Cipla limited established a brilliant performance in the June quarter (Q1FY22). This was followed by a 68.5% growth in domestic sales that comprised almost half of the total sales.
The growth is attributed to the increasing demand for Covid-19 medicines. The company reported a consolidated net profit of Rs. 715 crores in the first quarter which ended in June.
Cipla Limited on Wednesday announced that it has signed a licensing agreement with Belgium-based firm, Multi G for the distribution of their COVID-19 Rapid Antibody test kit, across Emerging markets and Europe.
Post Democrat Joe Biden’s victory in the US Presidential Election 2020, the positive global cues have steered the Indian market on Monday.
The Indian indices closed higher after rallying at good figures with Nifty crossing 11330 and Sensex crossing above 38400 on Monday.
Cipla surpassed it's estimates, price jumping over 6 per cent at open on August 10. The company reported its June quarter earnings post market hour on August 7.
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