
Cipla stock tanks 8% after USFDA warning over issues at MP unit
Warning letter stresses data integrity issues at company embedded with product complaints and microbial contamination
Warning letter stresses data integrity issues at company embedded with product complaints and microbial contamination
Mankind Pharma has reported 19.4% YoY rise in profit at ₹501.03 cr in Q2 FY24, while revenue from operations jumped 11.6% to ₹2,708.10 cr.
Under Satyanarayana Chava, the company has entered cutting-edge areas such as gene therapy and rare diseases.
Cyrus Soli Poonawalla has seen the sharpest increase in wealth in value terms across sectors during the year.
Cipla South Africa has signed a binding term sheet with Actor Holdings to acquire 100% of the issued ordinary shares of Actor Pharma.
The pharma major’s subsidiary has launched Propranolol LA capsules, 60 mg, 80 mg, 120 mg, and 160 mg, in Canada.
In the past one month, the share price has gained nearly 57%, while it more than doubled against its 52-week low of ₹861.5 touched on May 22, 2023.
The pharma major reported 66% YoY growth in net profit at ₹494 crore, while sales rose 18% YoY to ₹2,579 crore in Q1FY24.
The pharma company has declared its first interim dividend of ₹315 crore for FY24, which translates into ₹25 per share, or 1,250%, for each ₹2 face value share.
The share price of the drugmaker has risen 92% in the last one year from its 52-week low of ₹340.60 touched on July 27, 2022.