Why are Cipla shares down 3% despite deal with Eli Lilly to sell weight loss drug?

Cipla share price: Despite a deal with Eli Lily to sell its blockbuster weight-loss drug under a separate brand in the country, Cipla shares witnessed selling pressure in trade on Friday, October 24.

Analysts believe that while the deal is positive, Cipla's share price is unlikely to see a fresh run-up, given the rise it has already seen in the anticipation of the deal over the past few sessions.

Cipla's share price extended its fall in trade today, following a 1% slide on Thursday. Before that, the pharma stock had gained for five straight sessions, clocking an over 7.5% gain.

More to come...

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