Granules India gains after DRDO license to manufacture, market 2-DG COVID drug

Granules India rose 1.70% after the company said that it has received licence from Defence Research & Development Organisation (DRDO), Ministry of Defence, Government of India, to manufacture and market of 2- Deoxy-D-Glucose (2-DG).

Developed by DRDO, 2-DG has been granted permission by Drug Controller General of India (DCGI) for emergency use of this drug as adjunct therapy in moderate to severe Covid 19 patients.

2-DG works by accumulating in virus infected cells and prevent growth of the virus by stopping - energy production and viral synthesis. This drug reduces a patient's average recovery time by two and half days and oxygen demand by up to 40%.

Granules is working closely with DRDO team to launch the product in India at the earliest.

Granules India along with its subsidiaries has a global presence which extends to over 250 customers in over 75 countries through its offices in India, US & UK and has seven manufacturing facilities out of which six are located in India and one in the USA.

The drug company posted a 7.9% rise in consolidated net profit to Rs 120.2 crore on a 15.5% increase in net sales to Rs 849 crore in Q1 FY22 over Q1 FY21.

Powered by Capital Market - Live News