Home >Markets >Stock Markets >Cipla surges 9% on launch of remdesivir generic for covid-19 treatment

MUMBAI: Shares of Cipla Ltd jumped 9.2% after the company announced the launch of Cipremi--the generic of remdesivir. The US Food and Drug Administration (US FDA) has issued an Emergency Use Authorisation (EUA) to allow the drug to be used for treatment of patients with covid-19.

At 10:05 am, Cipla shares traded at 663.80, up 4.2% from previous close, while the benchmark Sensex was up 1.1% at 35,104.71.

In a notification to the exchanges, Cipla on Sunday announced the launch of its generic version of remdesivir. It is the only US FDA approved Emergency Use Authorisation (EUA) treatment for adult and paediatric patients hospitalised with suspected or laboratory confirmed covid-19.

In May, Gilead Sciences Inc, developer of remdesivir, had extended a voluntary non-exclusive license to Cipla to manufacture and market the latter's generic version of the drug.

Cipla 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 medical requirement. As part of a risk management plan, Cipla will provide training on use of the drug, informed patient consent documents, conduct post marketing surveillance as well as conduct a phase IV clinical trial on Indian patients, according to the company.

As part of its efforts to enable speedy and equitable access to this treatment and in anticipation of demand, Cipla will be commercialising remdesivir through its own facilities and partnered sites. The drug will be supplied through government and open market channels to ensure equitable distribution.

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