Cipla shares rise after Vysov anti-diabetic drug acquisition

Shares of pharma company Cipla on Tuesday settled with over 1 per cent gains after the firm acquired brand name and trademark rights for Vysov for anti-diabetic drug Vildagliptin. On the BSE, the shares rose upto 1.61 per cent to Rs 466 per unit during the day and finally settled 1.12 per cent higher at Rs 463.75.

Meanwhile, on the NSE, the stock gained as much as 1.73 per cent in early trade to Rs 464.20 and closed 1.15 per cent up at Rs 463.50. In terms of volume, over 24 lakh shares of Cipla were traded on the NSE and 62,000 shares exchanged hands on the BSE.

Homegrown pharma major Cipla Ltd on Monday said it has acquired brand name and trademark rights for Vysov for anti-diabetic drug Vildagliptin for the Indian market from Novartis.