Cipla hits 52-wk high on launch of generic remdesivir for Covid-19 patients

Remdesivir is the only USFDA approved emergency use authorization treatment in severe (hospitalised) Covid-19 patients.

Shares of Cipla rallied 9 per cent on Monday to hit a fresh 52-week high of Rs 696 on the BSE after the company launched the generic version of Gilead Sciences' Remdesivir, lyophilized powder for injection, 100 mg under its brand name 'Cipremi'.

Remdesivir is the only United States Food and Drug Administration (USFDA) approved emergenecy use authorization (EUA) treatment in severe (hospitalised) Covid-19 patients.

In May, Gilead Sciences Inc. extended a voluntary non-exclusive license to Cipla to manufacture and market Cipla’s generic version of remedisvir called 'Cipremi'. The company recently received the Drug Controller General of India