Cipla in the green

Cipla is up in the green today, rising over 2.5% to an intraday high at Rs.927.85 on the back of 1.5 times rise in volumes. Its 52-week high is at Rs.966.

The stock price has reacted positively to the its announcement that it has launched ‘ViraGen’, a polymerase chain reaction (Covid-19 RT-PCR) test kit for Covid-19 in India. This is in partnership with Ubio Biotechnology Systems.

This kit will be manufactured by Ubio Biotechnology Systems and marketed and distributed by Cipla.

This is the company's third offering in the Covid-19 testing segment. Cipla already has partnerships for antibody detection kit and antigen test kit.

ViraGen is a real-time detection kit approved by the ICMR (Indian Council of Medical Research) and is based on multiplex PCR technology. It helps to identify and detect SARS CoV-2 N Gene and ORF Lab Gene with the sensitivity of 98.6% and the specificity of 98.8% as compared to a standard ICMR test.