The Mumbai-based drug firm is also ramping up manufacturing of essential drugs required in the fight against the pandemic, company's chairman YK Hamied said.
An off-patent anti-viral drug, Favipiravir, originally discovered by Fuji Pharma in Japan, has shown promise in clinical trials for treatment of COVID-19 patients, especially in mild, moderate cases
COVID-19: Cipla launches generic version of remdesivir in India, looking to supply over 80,000 vials within first month
Cipla had earlier said the drug will be priced at less than Rs 5,000 per 100 mg vial in line with its overall philosophy of driving access and affordability.
Cipla and Hetero, the two Indian pharma majors, under licence from Gilead Sciences, have started manufacturing Remdisivir after DCGI approved it in June 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
The USFDA had issued an Emergency Use Authorization (EUA) to Gilead Sciences Inc for emergency use of remdesivir for the treatment of COVID-19 patients.
The medicine has been issued an Emergency Use Authorization (EUA) by the United States Food and Drug Administration (FDA) to treat COVID-19 patients.
The Hyderabad-based Indian Institute of Chemical Technology (IICT) has developed a convenient and cost-effective synthetic process for producing antiviral drug Favipiravir.
Cipla would look after trials, approvals, and mass production of the drugs.
The Mumbai-based firm also said it remains committed to maintain highest standards of compliance and will work closely with FDA to comprehensively address all the observations.
The move is expected to increase Cipla’s market presence in the large women’s health segment, with all four brands largely sold to women in order to treat nutritional deficiencies.