Cipla Launches Covid-19 Detection Test Kit ; Shares Gain

Shares of the country's leading drug maker - Cipla - rose as much as 2.63 per cent to hit an intraday high of Rs 927.85 after the company launched Coronavirus detections test kit. "Cipla announced the commercialization of a polymerase chain reaction (RT-PCR) test kit 'ViraGen' for COVID-19 in India, in partnership with Ubio Biotechnology Systems Pvt. Ltd. ViraGen is Cipla's third offering in the Covid-19 testing segment. Cipla already has partnerships for antibody detection kit and antigen test kits," Cipla said in a press release.

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 per cent and the specificity of 98.8 per cent as compared to a standard ICMR test.

This test is designed for the qualitative detection of nucleic acid from SARS-CoV-2 in the upper and lower respiratory specimens from individuals suspected of COVID-19, Cipla said.

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," Umang Vohra, MD & Global CEO, Cipla, said in a statement.

As of 2:14 pm, Cipla shares traded 1.85 per cent higher at Rs 921, outperforming the Sensex which was trading on a flat note.