Jubilant Pharmova up 6.5%

Today, any company, making a product for the covid crisis is on every trader’s radar. Jubilant Pharma Limited (JPL), a subsidiary of Jubilant Pharmova announced completion of safety and pharmacokinetic/absorption studies in animals and healthy human volunteers in India using a novel oral formulation of Remdesivir against the commercially available injectable formulation of the medicine.

The findings from both pre-clinical and human studies indicate that the drug is able to undergo absorption when administered using the novel oral formulation.

Jubilant has sought authorisation for additional studies for this from the Drug Controller General of India (DCGI).

Jubilant is hoping to provide an affordable, more convenient, easy-to-administer and potentially effective treatment option for Covid-19 patients.

The proposed oral treatment is expected to be for five days, a duration similar to the injectable dosage form. Remdesivir is the first and the only anti-viral drug fully approved by the USFDA for the treatment of patients with Covid-19 requiring hospitalization.

The company, in May last year, entered into a non-exclusive Licensing Agreement with Gilead Sciences, that granted it the right to register, manufacture and sell Gilead’s Remdesivir in 127 countries including India. On July 20, Jubilant received approval from the DCGI to manufacture and market the antiviral drug Remdesivir for 100 mg/vial (lyophilised injection) for restricted emergency use in India for Covid-19 treatment.

The stock price, needless to say, has reacted very positively to this development. Jubilant Pharmova, opened over 2% higher today at Rs.787 and rose almost 6.5% to Rs.819.85, on the back of more than 2.5 times surge in volumes