Cipla share price gains on launching polymerase chain reaction test kit

Stocks

ViraGen is Cipla’s third offering in the Covid-19 testing segment.

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Cipla share price added over a percent intraday on May 20 after the company launched ViraGen a polymerase chain reaction (Covid-19 RT-PCR) test.

” …. today announced the commercialisation of a polymerase chain reaction (RT-PCR) test kit ‘ViraGen’ for COVID-19 in India, in partnership with Ubio Biotechnology Systems Pvt. Ltd.,” company said in its release

ViraGen is Cipla’s third offering in the COVID-19 testing segment.

Cipla already has partnerships for antibody detection kit and antigen test kits.

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.

ViraGen used for qualitative detection of SARS-CoV-2 will be manufactured by Ubio Biotechnology Systems and marketed and distributed by Cipla through its expansive distribution network across the country.

“Cipla has been working relentlessly to ensure accessibility to treatments in this fight against COVID-19. Guided by our core purpose of ‘Caring for Life’, this partnership will enable us to reach out to more people across the country at a crucial time like now,” said Umang Vohra, MD & Global CEO, Cipla.

At 09:47 hrs, Cipla was quoting at Rs 915.50, up Rs 11.55, or 1.28 percent on the BSE.

cipla

The share touched a 52-week high of Rs 966.35 and a 52-week low of Rs 595.40 on 20 April, 2021 and 20 May, 2020, respectively.

Currently, it is trading 5.26 percent below its 52-week high and 53.76 percent above its 52-week low.