The shares of Cipla Limited gained over 2 per cent on Monday after the company announced that it had entered into a licensing agreement with Eli Lilly and Company, US, to expand access to Covid-19 treatment in India.
At 12:21 pm, Cipla was trading at ₹901.00 on the BSE, up ₹18.05 or 2.04 per cent. It hit an intra-day high of ₹902.00 and a low of ₹877.70. It opened at ₹890.20 as against the previous close of ₹882.95.
On the NSE, it was trading at ₹901.50, up ₹18.60 or 2.11 per cent.
Cipla in talks to bring Covid antidotes to India
Emergency use approval
The company has signed a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company, US, for the manufacture and commercialisation of the drug baricitinib for Covid-19 indication.
Roche gets Emergency Use nod for Antibody Cocktail for mild-to-moderate Covid-19
Baricitinib was issued a restricted emergency use approval by the Central Drugs Standard Control Organisation (CDSCO), Ministry of Health, India, for use in combination with remdesivir for the treatment of suspected or laboratory confirmed Covid-19 in hospitalised adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).
“This collaboration is a step further in Cipla’s efforts to enhance access to critical treatments for patients affected by the pandemic. Cipla will leverage its extensive distribution footprint to make this therapy accessible to more patients and markets,” the company said in a regulatory filing.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.