Cipla Ltd’s shares have gained 3 per cent to Rs 887.85 on the BSE in Monday’s intra-day trade after the company received the United States Food and Drug Administration’s (USFDA) final approval Lanreotide injection.

Lanreotide Injection is supplied in 60 mg/0.2 mL, 90 mg/0.3 mL, and 120 mg/0.5 mL single-dose prefilled syringes. It is indicated for treating patients with Acromegaly and Gastroenteropancreatic Neuroendocrine Tumors.

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“This approval is in-line with the company’s aspiration for more complex products in the US. US business has grown at a CAGR of 15 per cent from FY16-21 and contributed 20 per cent to total revenue in FY21. We remain positive on Cipla’s calibrated approach of focusing more on branded products and core therapies across the world,” ICICI Securities said in a note.