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Everest Organics Ltd (EOL) on Tuesday informed that it has started making the active pharmaceutical ingredient (API) for a generic version of Merck & Co's experimental antiviral drug molnupiravir to treat mild to moderate COVID-19. Shares of Everest Organics jumped as much as 11% on the BSE at 330 per share in an otherwise weak market.

"The development of an anti-viral APl 'MOLNUPIRAVIR' an additional COVID -19 treatment drug that is being developed at Lab Scale for the first-line treatment of COVID-19 in adults patients with mild to moderate symptoms," the company said in an exchange filing. 

Everest Organics has joined Divi's Laboratories as an API maker for Merck's experimental oral drug. Merck recently sought US emergency use authorisation for the drug, putting molnupiravir on course to become the first oral antiviral medication for COVID-19.

Srikakarlapudi Sirisha, Chief Executive Officer, EOL - New Product Development said that “After the successful development and commercialization of various COVID-19 drugs, such as Oseltamivir, Remdesivir, Posaconazole, Everest Organics Limited is on its path of expansion of this portfolio and hence has further developed an additional COVID-19 treatment API in that segment."

'Molnupiravir' is an API that reduces the risk of hospitalization and death by around 50% for patients with mild or moderate cases of Covid, studies claim. The APl, Molnupiravir is administered orally and works by inhibiting the replication of the coronavirus inside the body.

Everest Organics Limited is an API and Bulk drug manufacturing company. Its API facility in Hyderabad manufactures and exports various APls products to more than 40 countries as well as caters to local demand in market in India.

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