GoodTime Nation - Top WebStories in India

This Indian company has gained 3000 crores by settling patent litigation in US court


This Indian company has gained 3000 crores by settling patent litigation in US court 1

Pharma company Cipla has informed that the company and Seleguin in the USA [ब्रिस्टल मायर्स स्क्विब (बीएमएस)] The ongoing grivalimed (leniglomide) patent lawsuit has been settled. Under the terms of the settlement, Selegine will grant Cipla a license to sell a limited quantity of capsules named Grievalimed in the US sometime after March 2022, subject to regulatory approval. This limited quantity constraint will be in force until January 2026. After which Cipla shares have gained 5 percent today.

Company shares rose 5 percent
Today, Cipla shares have gained up to 5%. As per the data, during the trading session, the company’s stock reached a day high of Rs 792.80. Which is 5 percent more than yesterday. Let us tell you that the 52-week hike of the company is 829 rupees. Which was created by the company on 13 October this year. While the company has a 52-week low of Rs 356.75, which was made on March 13 this year. That is, the company’s stock has doubled since March.

Current stock position
At present, the company’s stock is trading at Rs 783.35 with a gain of 3.63 per cent at 11.40 am. While the company’s stock opened at Rs 772 per share today. Which is also at the lowest level of the day. At the same time, after the market closed on Friday, the company’s share price was Rs 755.90 per share.

Increase in market cap
On the other hand, the market cap of the company has also seen tremendous growth. According to the data, when the company’s share price reached Rs 792.80 today, the market cap of the company had reached around Rs 63,935.04 crore. While on Friday, the company’s market cap was around Rs 60980.26 crore. That is, during the business session today, the market cap of the company increased by Rs 2951.78.

Leave A Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.