Whenever there is a surge in spread of corona, pharma companies are back in the reckoning; its morbid in many ways but that how the market functions. Today, the pharma index is in the green and the BSE Healthcare is up with 71 stocks in the green out of the 89 covered on this index. Dr.Reddys, Cipla, Torrent, JB Chemicals, Sun Pharma, Thyrocare, Laurus Labs, Lupin, all are up.
Apart from the increasing corona cases which directly gives an impetus to their business, these stocks are in the limelight after Drugs Controller General of India (DCGI) has approved the use of the antiviral drug, Molnupiravir for Covid-19 treatment. This comes after the anti-viral drug received EUA for treatment of mild to moderate covid-19 from U.S. FDA.
JB Chemicals is amongst the first, set to launch Molnupiravir 200 mg for Indian market under the brand name Molunamax.