Cipla Ltd up by 2% on announcement of `ViraGen` for COVID-19 By Mr. Yash Gupta, Angel Broking Ltd

01-01-1970 12:00 AM | Source: Angel Broking Ltd

Cipla Ltd up by 2% on announcement of `ViraGen` for COVID-19 By Mr. Yash Gupta, Angel Broking Ltd

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Below are Quote on Cipla Ltd up by 2% on announcement of ‘ViraGen’ for COVID-19 by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd

Cipla Limited announced the commercialisation 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. 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% and the specificity of 98.8% 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.

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.

This is a good launch for Cipla limited but as of now Covid 19 cases in India have started coming down in the 2^nd wave. We don’t expect this product to make a major contribution to the top line of the company. We have a neutral rating on Cipla Limited.

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Cipla Ltd up by 2% on announcement of `ViraGen` for COVID-19 By Mr. Yash Gupta, Angel Broking Ltd

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