Cipla hits a new high

Cipla is a bright stock today morning. From its yesterday’s close of Rs.979, the stock opened 1.5% higher at Rs.994 and went on to hit a new 52-week high at Rs.997.20.

The stock hit the roof as it has got the Drugs Controller General of India (DCGI) nod to import Moderna's Covid Vaccine with emergency use authorisation in India.

Cipla is supporting Moderna with the regulatory approval and importation of vaccines to be donated to India. The company said that at this stage, there is no definitive agreement on commercial supplies.

And in another announcement, Cipla announced that along with Dr Reddy’s Laboratories, Sun Pharmaceuticals Industries, Torrent Pharmaceuticals and Emcure Pharmaceuticals announced that the five companies will collaborate for the clinical trial of the investigational oral anti-viral drug Molnupiravir for the treatment of mild COVID-19 in an outpatient setting in India.

Molnupiravir is an oral antiviral that inhibits the replication of multiple RNA viruses including SARS-CoV-2. It is presently being studied by MSD, through a collaboration with Ridgeback Biotherapeutics, in a Phase III trial for the treatment of non-hospitalized patients with confirmed COVID-19 globally.