Cipla has received final approval for its Abbreviated New Drug Application(ANDA) for Valganciclovir Tablets 450mg from the United States Food and Drug Administration (US FDA).

Cipla's Valganciclovir Tablets 450mg is AB-rated generic therapeuticequivalent version of Roche's Valcyte®. It is a deoxynucleoside analoguecytomegalovirus (CMV) DNA polymerase inhibitor indicated for use in thetreatment of CMV retinitis in patients with acquired immunodeficiencysyndrome (AIDS) and prevention of CMV disease in kidney, heart, and kidney-pancreas transplant patients at high risk.

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Net profit of Cipla declined 15.64% to Rs 366.91 crore in the quarter ended September 2018 as against Rs 434.95 crore during the previous quarter ended September 2017. Sales declined 1.01% to Rs 3947.93 crore in the quarter ended September 2018 as against Rs 3988.24 crore during the previous quarter ended September 2017.

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Net profit of Cipla rose 0.41% to Rs 568.47 crore in the quarter ended September 2018 as against Rs 566.16 crore during the previous quarter ended September 2017. Sales rose 2.01% to Rs 3035.62 crore in the quarter ended September 2018 as against Rs 2975.94 crore during the previous quarter ended September 2017.

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The result was announced during trading hours today, 5 November 2018.

Meanwhile, the S&P BSE Sensex was down 47.86 points, or 0.14% to 34,963.79.

On the BSE, 7.53 lakh shares were traded in the counter so far compared with average daily volumes of 1.13 lakh shares in the past two weeks. The stock had hit a high of Rs 616.60 and a low of Rs 558.10 so far during the day. The stock hit a 52-week high of Rs 678 on 19 September 2018. The stock hit a 52-week low of Rs 508.10 on 22 May 2018.

Umang Vohra, MD and Global CEO, Cipla, said that the company had a modest quarter but maintained a strong performance in its private market segment across geographies. Cipla's limited competition assets in the US are ramping up to drive quarter-on-quarter growth. The company also recently announced the approval of Metoprolol, another limited competition asset. As the firm enters the second half of this fiscal, multiple headwinds are likely to impact its reported performance. Having said that, the company is focusing on positioning its businesses for long term growth.

Cipla is a global pharmaceutical company focused on complex generics, and deepening portfolio in India, South Africa, North America, and key regulated and emerging markets.

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