Cipla gains on licensing agreement with Eli Lilly for Covid drug baricitinib

Cipla rose 1.09% to Rs 892.60 after the drug major entered into a licensing agreement with Lilly to expand access to Covid-19 treatment in India.

Cipla announced it has signed a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company, USA for the manufacture and commercialization of the drug baricitinib for Covid-19 indication.

Baricitinib was issued a restricted emergency use approval by the Central Drugs Standard Control Organization (CDSCO), Ministry of Health, India for use in combination with remdesivir for the treatment of suspected or laboratory confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).

This collaboration is a step further in Cipla's efforts to enhance access to critical treatments for patients affected by the pandemic. Cipla will leverage itsextensive distribution footprint to make this therapy accessible to more patients and markets.

Commenting on the partnership, Umang Vohra (MD and Global CEO, Cipla) said, "Enabling access to high-quality treatment and medicationiscore to our purpose of 'Caring for life.' Through the pandemic, Cipla has been at the forefront of COVID care and our partnership withLillyis a demonstration of our unwavering commitment to care towards patients impacted by COVID-19."

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.

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

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