New Delhi: Shares of Cipla Ltd surged as much as 8.6% to hit a record high of Rs 575.20 apiece after it launched its generic drug used for treatment of asthma and chronic obstructive pulmonary disease in Germany and Sweden.
While the drug Salmeterol/Fluticasone MDI will be sold under the Serroflo brand in Germany, it will be marketed as Salmeterol/Fluticasone Cipla in Sweden, Cipla said in a statement.
Commenting on the development, Cipla Europe Head Frank Pieters said: "With Serroflo we offer in Germany and Sweden an alternative which is effective and efficient and therefore brings many advantages into a market which suffers from limited resources."
Serroflo will substantially improve the affordability of fixed combinations in Europe and help manage health costs for respiratory treatment, the company said.
The product will be available in the strengths of 120 doses of 25/125 mcg salmeterol/fluticasone and 120 doses of 25/250 mcg salmeterol/fluticasone, it added.
"Over the next 12-18 months we will see a series of launches throughout Europe as we know that there is a common need for high quality, affordable, reliable and thus sustainable therapy-alternatives ...," Cipla Managing Director and Global CEO Subhanu Saxena said.
In Europe, about 30 million patients under 45 years suffer from asthma causing a huge burden and triggering significant disability and work loss, Cipla said.
The introduction of Salmeterol/Fluticasone in Germany and Sweden is a key milestone in Cipla's ambition to improve treatment adherence in asthma and to offer better healthcare solutions for patients irrespective of what disease they suffer from, it added.
Cipla's portfolio includes 2,000 products in 65 therapeutic categories.
(With Agency inputs)
