Cipla Share Price Up By 1.24%; Receives VAI Status from the USFDA

On November 4, 2024, Cipla share price is gaining the spotlight. On Monday, the stock opened at ₹1,584.00, reflecting an increase from its previous close of ₹1,559.55. By 10:16 AM, the stock was trading at ₹1,578.90, marking a 1.24% rise. 

The company’s market capitalisation reached approximately ₹1,27,511.24 crore. Cipla’s stock recently peaked at a 52-week high of ₹1,702.05 on October 9, 2024, while it recorded a one-month low of ₹1,403.00 on October 30, 2024.

Recent Developments

Looking at the recent developments at Cipla, on October 31, 2024, the company announced that the US Food and Drug Administration (USFDA) granted Cipla’s Goa manufacturing unit a “Voluntary Action Indicated” (VAI) status. This significant approval positions Cipla to launch its Abraxane drug in the US market, which is expected to bolster its revenue streams significantly.

Financial Highlights

Cipla’s consolidated total income from operations for September 2024 reached ₹7,051 crore, representing a year-on-year growth of 8.6%. The company reported a Profit After Tax (PAT) of ₹1,303 crore for Q2 FY2025, up from ₹1,115 crore in Q2 FY2024, indicating a notable rise of 16.9%. Furthermore, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹1,886 crore, accounting for 26.7% of total revenue, reflecting a 12% increase year-on-year.

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