Cipla shares gain over 3 pc as co launches generic remdesivir for COVID-19 patients

New Delhi, Jun 22 () Shares of Cipla Ltd on Monday gained over 3 per cent after the company announced the launch of its generic version of remdesivir, which has been authorised by the USFDA for emergency use for the treatment of COVID-19 patients, under its brand name Cipremi.

It rose 2.94 per cent to close at Rs 655.80 on the BSE. During the day, it jumped 9.24 per cent to a one-year high of Rs 696.

On the National Stock Exchange (NSE), it gained 3.10 per cent to close at Rs 655.95.

The USFDA had issued an Emergency Use Authorisation (EUA) to Gilead Sciences Inc for remdesivir for the treatment of COVID-19 patients.

Remdesivir is the only USFDA-approved EUA for treatment for adult and paediatric patients hospitalised with suspected or laboratory-confirmed coronavirus infection.

In May, Gilead Sciences Inc extended a voluntary non-exclusive licence to Cipla to manufacture and market generic version of remedisvir called Cipremi.

Cipla said it has been granted regulatory approval by the Drug Controller General of India (DCGI) for restricted emergency use in the country as part of the accelerated approval process considering the urgent and unmet medical need. SUM HRS