Pharma major Cipla Limited today announced that it signed a licensing agreement with a Belgium-based company, Multi G for the distribution of their COVID-19 Rapid Antibody test kit, across most Emerging markets and Europe. This licensing agreement is as a part of Cipla’s efforts to boost global access to life-saving treatments and diagnostic infrastructure for patients in need. The stock is trading in the green on Wednesday morning.

Accordingly, Cipla will be responsible for the distribution of the COVID-19 rapid antibody kit that will be manufactured by MultiG. It is marketed under the brand name ‘Covi-G’, this was among the earliest Antibody kits to declare CE-compliance and is awaiting approval by ICH country regulators It has been commercialized in more than twenty countries already, with sensitivity and specificity exceeding 92%. It tests for both IgM and IgG antibodies, using a single-prick blood test using of the test result indicator visual interpretation. The kit gives results within 10 minutes.

Reacting to this development, shares of Cipla Limited is trading at Rs 750 per share up by Rs 7.5 from its previous closing of Rs. 742.50 on the Bombay Stock Exchange, during the very morning session, on Wednesday.

Sensex, Nifty open flat, Lakshmi Vilas Bank Hit 20pc Lower Circuit

Airbnb reports revenue loss in millions due to Pandemic

Maruti launches fifth round of its MAIL programme