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( 10 May 2018)
Cipla dips nearly 2% post deal with MannKind Corp

Shares of Cipla fell nearly 2 per cent on the Bombay Stock Exchange after drug maker said that it has entered into an exclusive marketing and distribution agreement with US-based MannKind Corporation for Afrezza in India.

Following the announcement, stocks of the company declined as much as 1.65 per cent and touched an intra-day low of Rs 579.45 apiece on the Bombay Stock Exchange.

In a similar trend, shares of the firm were trading 1.16 per cent lower at Rs 581.20 apiece on the National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 35,347.04, up 27.69 points, or 0.08 per cent at 12:20 hours.