Cipla gains after deal to market Roche's drug cocktail to treat Covid-19 in India

Cipla rose 1.10% to Rs 898.50 after the drug major said it will distribute Roche's antibody cocktail (Casirivimab and Imdevimab) in India.

Roche India said that the Central Drugs Standards Control Organisation (CDSCO) has provided an Emergency Use Authorisation (EUA) for Roche's antibody cocktail (Casirivimab and Imdevimab) in India. The 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.

The antibody cocktail is to be administered for the treatment of mild to moderate coronavirus disease 2019 (COVID-19) in adults and pediatric patients (12 years of age or older, weighing at least 40 kg) who are confirmed to be infected with SARS-COV2 and who are at high risk of developing severe COVID-19 disease.

Cipla will market and distribute the product in India by leveraging its solid distribution strengths across the country. The drug will be available through leading hospitals and Covid treatment centers.

On 23 March 2021, Roche announced that a large phase III global trial in high-risk non-hospitalised COVID-19 patients met its primary endpoint, showing that Casirivimab and Imdevimab significantly reduced the risk of hospitalisation or death by 70% compared to placebo. Casirivimab and imdevimab also significantly shortened the duration of symptoms by four days.

Commenting on the partnership, Umang Vohra, MD & Global CEO Cipla said, "We are deeply committed to exploring all possible treatment options and being at the forefront in our fight against COVID-19. This partnership with Roche is a significant step in enabling access to promising treatments in furtherance to our purpose of 'Caring for Life'."

Cipla is a global pharmaceutical company focused on agile and sustainable growth, complex generics, and deepening portfolio in home markets of India, South Africa, North America, and key regulated and emerging markets.

On a consolidated basis, the drug major's net profit surged 112.8% to Rs 752.51 crore on 21.7% rise in net sales to Rs 5,154.17 crore in Q3 FY21 over Q3 FY20.

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