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Cipla launches 'Covi-G' for COVID-19 rapid antibody detection

Posted On: 2020-11-17 23:08:42 (Time Zone: Arizona, USA)


Cipla Limited (BSE: 500087; NSE: CIPLA EQ; and hereafter referred to as "Cipla") today announced that it signed a licensing agreement with a Belgium-based firm, Multi G for the distribution of their COVID-19 Rapid Antibody test kit, across most Emerging markets and Europe. This licencing agreement is part of Cipla's efforts to enhance global access to life- saving treatments and diagnostic infrastructure for patients in need.

As part of this agreement, Cipla will be responsible for 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 commercialised in 20+ 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.

Cipla's expansive reach, network and partnerships with public health authorities as well as private institutions will help in ensuring the seamless access of these kits across 25+ markets in Asia, Middle-East and North Africa, Latin America, EU and Australia.

This launch marks yet another addition to our COVID portfolio after ELIFAST diagnostic kits. Apart from an epidemiological tool for mass screening, this point of care test can also be used to detect patients who have had a suspected asymptomatic or mild infection in the past, identify potential plasma donors and possibly prioritise susceptible populations for vaccines.

Shares of CIPLA LTD. was last trading in BSE at Rs.742.5 as compared to the previous close of Rs. 746.25. The total number of shares traded during the day was 281312 in over 8058 trades.

The stock hit an intraday high of Rs. 751.8 and intraday low of 734.2. The net turnover during the day was Rs. 208923198.


Source: Equity Bulls

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