Cipla surges on strengthening presence in Kenya

Sep 29,2014   02:27 Hrs IST

Cipla is currently trading at Rs. 618.80, up by 7.30 points or 1.19% from its previous closing of Rs. 611.50 on the BSE. The scrip opened at Rs. 612.00 and has touched a high and low of Rs. 621.00 and Rs. 608.30 respectively. So far 103279 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 639.05 on 16-Sep-2014 and a 52 week low of Rs. 366.70 on 24-Feb-2014. Last one week high and low of the scrip stood at Rs. 626.70 and Rs. 574.00 respectively. The current market cap of the company is Rs. 49612.51 crore. The promoters holding in the company stood at 36.80% while Institutions and Non-Institutions held 35.85% and 26.23% respectively. Cipla is aiming to build a strong presence in Kenya. In line with its global strategy, Cipla continues to retain ownership of its marketing authorisations and trademarks for its products in Kenya and will continue to invest further in developing the Kenya market. The company has recently introduced its own office in Kenya. The products will be brought to Kenyan patients in partnership with Surgipharm. Over the years, Cipla has been working with various partners in Kenya and has been supplying a basket of products across various key therapies - anti-HIV, anti-malarial, anti-asthma, gastroenterology, anti-infectives, cardiovascular and oncology among others. Cipla is a global healthcare company which uses technology and innovation to meet the healthcare needs of patients in various therapy areas. For more than 70 years, Cipla has emerged as one of the most respected pharmaceutical names in India as well as across almost 170 countries. Cipla’s turnover in 2013-14 was $1.7 billion.