SMS Pharma opened over 5% higher at Rs.101.55, rising up over 18% to hit an intraday high at Rs.113.75, not too far from its 20% UC of the day at Rs.115.85.

The market is pretty happy with this new development – it has received non-exclusive license to manufacture and supply of nirmatrelvir, a key component of Pfizer’s oral Covid-19 drug Paxlovid.

This is  through the Medicine Patent Pool (MPP). This is an oral Covid-19 medicine developed by Pfizer.

It will be launching the drug in India as Paxvid, which will come as a co-pack having two tablets of nirmatrelvir (150 mg ), and one tablet of ritonavir (100 mg each), after receiving approval from the Indian drug regulator.

SMS Pharma said the oral treatment showed an 89% reduction in risk of Covid-19 related hospitalisation of death for any cause compared to placebo based on the Phase 2/3 study conducted by Pfizer.