Strides Pharma Science Limited (BSE: 532531, NSE: STAR, Company or Strides), a global pharmaceutical company, today announced that it has received Emergency Use Authorization from the Drugs Controller General of India (DCGI) to launch Molnupiravir 200mg in India. Molnupiravir is an orally administered form of a potent ribonucleoside analog that inhibits the replication of SARS-CoV-2 and the clinical studies have shown this drug to be active against the most common Covid-19 variants.
Under the brand name Stripiravir™, Strides has developed Molnupiravir and is commercializing the product with a group integrated supply chain for Active Pharmaceutical Ingredients and solid oral dosage from its large-scale WHO Pre-Qualified (PQ) manufacturing capacities.
Dr. R Ananthanarayanan, Managing Director & Chief Executive Officer, Strides Pharma Science Limited said "We are delighted to receive the DCGI approval for launching Molnupiravir, which has shown promising results in several clinical studies. The product provides therapeutic benefit to the patients with mild to moderate Covid symptoms and can be administered at home. With the emergence of the new variants, we believe Molnupiravir will benefit the broad population which could be at risk due to Covid-19. We remain committed in our fight against this global pandemic."
Molnupiravir has been granted approval by the UK's Medicines and Healthcare products Regulatory Agency (MHRA) as a safe and effective medication for patients with mild to moderate cases of COVID-19. The product also recently received the USFDA's Emergency Use Authorization. The drug was invented by Emory University (Atlanta, USA) and was developed by Merck & Co., Inc. in collaboration with Ridgeback Biotherapeutics.
Shares of Strides Pharma Science Limited was last trading in BSE at Rs. 453.30 as compared to the previous close of Rs. 440.05. The total number of shares traded during the day was 71558 in over 2655 trades.
The stock hit an intraday high of Rs. 459.70 and intraday low of 438.50. The net turnover during the day was Rs. 31814665.00.