Meanwhile, the BSE Sensex was down 86.57 points, or 0.51%, to 16,763.03
On BSE, 1.65 lakh shares were traded in the counter as against an average daily volume of 4.11 lakh shares in the past one quarter.
The stock hit a 52-week high of Rs 310.70 in intra-day trade today, 12 November 2009. It touched an intra-day low of Rs 305 so far. The stock had hit a 52-week low of Rs 162 on 20 November 2008.
The large-cap stock had underperformed the market over the past one month till 11 November 2009, rising 3.96% as compared to the Sensex's return of 1.24%. It also underperformed the market in the past one quarter, rising 8.72% as compared to the Sensex's return of 11.77%.
The company's equity capital is Rs 160.58 crore. Face value per share is Rs 2.
The current price of Rs 308.10 discounts the company's Q2 September 2009 annualized EPS of Rs 13.74, by a PE multiple of 22.42
Cipla will reportedly brand oseltamivir in the local market as Antiflu and zanamivir as Virenza. Cipla's Antiflu is a copycat version of Swiss multi-national Hoffmann-La Roche's Tamiflu and Virenza is the copy of GlaxoSmithKline's Relenza. Both drugs, used globally to treat the ongoing H1N1 pandemic, lack patent protection in India as these are pre-1995 innovations. Such innovations are not granted patents in India, according to the product patent regime introduced in the country since 2005.
The launch of Antiflu comes in wake of the World Health Organisation (WHO), declaring the H1N1 swine flu as pandemic in June following its global outbreak.
Meanwhile Cipla has also reportedly offered to supply its generic version of Roche's Tamiflu to the United States to tide over the shortage. Cipla has capacity to produce 2 million doses of Oseltamivir a month if needed, reports said. Currently these drugs have patent protection in many developed countries, including the US and Europe. Cipla has so far exported about $10 million worth of Antiflu to countries in Latin America, Africa, South-East Asia and West Asia, where the drug lacks patent protection.
In September 2009, Cipla had raised Rs 675.99 crore through the issue of 2.56 crore equity shares of Rs 2 each at Rs 263.75 per equity share (including a premium of Rs 261.75 per share) to qualified institutional bidders
Cipla's net profit surged 82.10% to Rs 275.74 crore on 5.3% rise in net sales to Rs 1371.18 crore in Q2 September 2009 over Q2 September 2008.
Cipla manufactures pharmaceutical products. The products of the company include anti-asthmatics, anti-cancer, anti-inflammatory, anti-depressant and other therapeutic index including animal health care products.