Cipla shares surged over 9% after it got an approval from DCGI to manufacture and market generic COVID-19 drug Remdesivir.
Cipla shares surged over 9 per cent to hit a record high on Monday, after the company informed stock exchanges that it had received an approval from the government’s Drug Controller General of India (DCGI) to manufacture and market a generic version of Gilead Sciences’s experimental COVID-19 treatment Remdesivir. Cipla said its generic version of Remdesivir will be called Cipremi. Gilead Sciences signed non-exclusive licensing pacts last month with five generic drug makers based in India and Pakistan to expand the supply of its COVID-19 treatment.
“The US drug regulator issued an Emergency Use Authorization (EUA) to Gilead Sciences Inc. for emergency use of Remdesivir for the treatment of hospitalized 2019 coronavirus disease (COVID-19) patients. It is the only U.S. FDA approved Emergency Use Authorisation (EUA) treatment for adult and pediatric patients hospitalized with suspected or laboratory confirmed COVID-19 infection,” the Mumbai-based drug maker said in its regulatory filing.
India has over 4.25 lakh coronavirus cases, recording the biggest single-day jump of 445 deaths amid renewed concerns over the rapid rise in new infections in the country. The spike in cases has taken the country’s tally to 4,25,282 while the death count rose to 13,699, according to the Union Health Ministry data this morning.
The coronavirus cases in Delhi has neared the 60,000 mark, with 59,746 cases. 3,000 people tested positive on Sunday. All coronavirus patients in Delhi will have to go to COVID-19 care centres and those who have facilities at home and have no co-morbidity can avail home isolation in the capital, the centre said, hours after the Delhi government issued a revised order on home quarantine.
At 10:35 am, Cipla shares traded 3.33 per cent higher at Rs 658 on the BSE, outperforming the benchmark Sensex index which was up 0.70 per cent.
