Stocks

Cipla records fresh highs on nod for Moderna’s Covid-19 vaccine

Our Bureau Mumbai | Updated on June 30, 2021

FILE PHOTO: A vial of the Moderna COVID-19 vaccine   -  REUTERS

Cipla was trading at ₹975.25 on the BSE, down ₹3.80 or 0.39 per cent

Shares of pharmaceutical major Cipla recorded fresh highs during the morning trade on Wednesday but soon erased gains on profit-booking.

At 10:38 am, Cipla was trading at ₹975.25 on the BSE, down ₹3.80 or 0.39 per cent. It recorded a fresh 52-week high of ₹997.20 and an intraday low of ₹975.10. It had opened at ₹994.00 as against the previous close of ₹979.05.

On the NSE, it was quoting ₹975.55 a piece, down ₹4.05 or 0.41 per cent. It recorded a 52-week high of ₹997.

Also read: Moderna’s Covid vaccine gets nod for restricted use

The company’s shares gained on reports that it had received regulatory approval from the Drugs Controller General of India (DCGI) to import Moderna’s Covid-19 Vaccine with emergency use authorisation in India.

“Cipla Limited is supporting Moderna, Inc. with the regulatory approval and importation of vaccines to be donated to India. At this stage, there is no definitive agreement on commercial supplies,” the company said in a regulatory filing.

Separately, Cipla, along with four other pharma majors have collaborated for the clinical trial of the investigational oral anti-viral drug Molnupiravir for the treatment of mild Covid-19 in an outpatient setting in India.

Cipla, Dr. Reddy’s, Emcure, Sun Pharma and Torrent to collaborate for clinical trial of the investigational anti-viral drug.

“The five pharma companies have entered into a collaboration agreement, wherein the parties will jointly sponsor, supervise and monitor the clinical trial in India,” the companies said in a joint release.

Also read: Moderna seeks regulatory nod for its Covid-19 vaccine

Following the clinical trial protocol approval given by the DCGI, the clinical trial will be conducted for the treatment of mild Covid-19 in an outpatient setting. It is expected to take place between June and September 2021 across India with the recruitment of 1,200 patients.

On successful completion of the clinical trial, each company will independently approach the regulatory authorities for approval to manufacture and supply Molnupiravir for the treatment of Covid-19 in India, the companies said.

Published on June 30, 2021

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