Torrent Pharma enters into Voluntary Licensing Agreement with Lilly for Baricitinib for Covid-19 in India

Torrent Pharmaceuticals Limited (Torrent) today announced that it has entered into a royalty free, non-exclusive voluntary licensing agreement with Eli Lilly and Company, joining a group of leading Indian pharmaceutical companies for baricitinib for Covid-19 in India. Under the agreement, Lilly has provided the license to manufacture and distribute baricitinib to Torrent for India along with Lilly's other license partners.

The agreement will help ensure wider reach and access to patients in India and further adds to Torrent Pharma's effort in helping patients affected by the pandemic. Baricitinib has been approved by the Central Drug Standard Control Organisation (CDSCO), India for restricted emergency use in combination with remdesivir for the treatment of suspected or laboratory confirmed Covid-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation or extracorporeal membrane oxygenation.

Commenting on the agreement, Aman Mehta, Chief Marketing Officer for Torrent said, "We are pleased to partner and work closely with Lilly to bring this treatment to market. This partnership further strengthens our efforts to help the nation fight the pandemic and provide quality treatment to patients. Torrent Group stands firmly committed to support the nation during this time of crisis."

Shares of TORRENT PHARMACEUTICALS LTD. was last trading in BSE at Rs.2724 as compared to the previous close of Rs. 2714.9. The total number of shares traded during the day was 16001 in over 1995 trades.

The stock hit an intraday high of Rs. 2754 and intraday low of 2695.9. The net turnover during the day was Rs. 43674526.

Source : Equity Bulls

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