Mylan has launched the first generic version of GlaxoSmithKline's combination asthma therapy Seretide Evohaler in the United Kingdom (UK).
Pharma major Cipla continues to trade on a gloomy note on the Bombay Stock Exchange (BSE) on concerns of earnings been hit following the launch of Asthma drugs by Mylan.
According to media reports, Mylan has launched the first generic version of GlaxoSmithKline's combination asthma therapy Seretide Evohaler in the United Kingdom (UK).
Select media reports quoted brokerage firm Bank of America Merrill Lynch (BoAML) stating that, they felt that the launch of asthma drug by Mylan in the UK is negative for Cipla because earlier the drug maker was expected to be the first company to launch this drug.
So far during the day, the scrip tumbled to a low of Rs. 569. Now, Cipla is down over 2.5 percent at Rs. 598.
On the BSE 90,000 shares have changed hands at the counter as compared to its two-week daily average volume of 193,000 shares.
Meanwhile, the BSE Sensex is down 55 points at 26,467.
According to media reports, Mylan has launched the first generic version of GlaxoSmithKline's combination asthma therapy Seretide Evohaler in the United Kingdom (UK).
Select media reports quoted brokerage firm Bank of America Merrill Lynch (BoAML) stating that, they felt that the launch of asthma drug by Mylan in the UK is negative for Cipla because earlier the drug maker was expected to be the first company to launch this drug.
So far during the day, the scrip tumbled to a low of Rs. 569. Now, Cipla is down over 2.5 percent at Rs. 598.
On the BSE 90,000 shares have changed hands at the counter as compared to its two-week daily average volume of 193,000 shares.
Meanwhile, the BSE Sensex is down 55 points at 26,467.
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