Syngene International up 9%

Rising for the past two days, Syngene International continued with its rise today too. It opened almost 3.5% higher and went up further by 9% to hit an intraday high at Rs.494.15. Its 52-week high is at Rs.522.

Syngene International has received the Indian Council of Medical Research (ICMR) approval on ELISafe 19, an IgG based ELISA test kit for COVID-19.

Syngene has collaborated with HiMedia Laboratories, a bioscience company, to manufacture ELISafe 19.

The ELISafe 19TM antibody test kit has a sensitivity of 100% and specificity of 99%.

Syngene developed the IgG based ELISA at its research facility in Bengaluru and partnered with HiMedia to manufacture and commercialise the product. HiMedia is seeking approval from the Central Drugs Standard Control Organisation (CDSCO) and will launch the kits once approval is in place.