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Cipla shares gain over 3 percent as company launches generic remdesivir for COVID-19 patients

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

Published: 22nd June 2020 08:04 PM  |   Last Updated: 22nd June 2020 08:04 PM   |  A+A-

An employee works at the reception area of Cipla at its headquarters in Mumbai

An employee works at the reception area of Cipla at its headquarters in Mumbai (File photo| Reuters)

By PTI

NEW DELHI: Shares of Cipla Ltd on Monday gained over 3 percent 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 percent 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 pediatric patients hospitalized with suspected or laboratory-confirmed coronavirus infection.

In May, Gilead Sciences Inc extended a voluntary non-exclusive license to Cipla to manufacture and market a generic versions 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.

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