Cipla, which had closed yesterday at Rs.888.70, rose over 3% to Rs.916.50 and then went down into the red at Rs.885.10 and is now back in the black at Rs.892. Volumes are up over 1.5 times.
Yesterday, the Govt allowed Emergency Use Authorisation for its investigational Antibody Cocktail (Casirivimab and Imdevimab) used in the treatment of Covid-19. And this is mainly made by Roche. This approval was based on the data that have been filed for the EUA in the United States, and the scientific opinion of the Committee for Medicinal Products for Human Use (CHMP) in the European Union.
This Emergency Use Authorisation will now enable Roche to import the globally manufactured product batches to India and will be marketed as well as distributed in India through a strategic partnership with Cipla. The drug will be available through leading hospitals and Covid treatment centers.
Former U.S. President Donald Trump had taken the same drug when he contracted the disease
The production process for this biologic medicine is very complex and Roche as one of the largest biologics manufacturers in the world was selected by its partner Regeneron to expand worldwide production capacity.
Roche said that it will do everything to ensure an equitable distribution across the globe, however initial local demand may far exceed the supplies the company will be able to provide.
Cipla though neither provided a price nor a launch date.