Cipla, Zydus Cadila, Jubilant Life and Dr Reddy’s shares gain after FDA approves Remdesivir for treating COVID-19 patients

Cipla, Zydus Cadila, Jubilant Life and Dr Reddy’s shares gain after FDA approves Remdesivir for treating COVID-19 patients
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  • US drug regulator approves the use of Remdesivir for treating hospitalised COVID-19 patients.
  • The US FDA said Veklury (the drug's brand name) cuts the recovery time on average by five days during clinical trials.
  • Cipla, Zydus Cadila, Dr Reddy’s are some of the companies that have launched the generic drug Remdesivir in India
  • Remdesivir has received much criticism from experts over its effectiveness. A WHO Solidarity trial found that the drug failed to reduce the mortality or hospital stay of the patients.
The shares of pharma major Cipla, Zydus Cadila, Jubilant Life Sciences and Dr Reddy Labs gained during the early trading hours on Friday after the US Food and Drug Administration (FDA) approved the use of antiviral drug Remdesivir to treat COVID-19 patients in hospitals.

The US FDA has said Veklury (drug's brand name) cut the recovery time on average by five days during clinical trials. "Veklury is the first treatment for COVID-19 to receive FDA approval," the FDA said in a statement.

The Remdesivir boost

CompanyShare price change on Oct 23*Share price change since June 30
Zydus Cadila 1%21.20%
Dr Reddy1%28%
Cipla 1%20%
Jubilant Life Sciences2%14%
*Share price change on Oct 23 till 10:35 am
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USFDA has approved the use of the drug for treatment of hospitalised COVID-19 patients — for adults and paediatric patients (12 years of age and older) and weighing at least 40 kilograms. The drug regulator’s decision was supported by the analysis of data from "three randomised, controlled clinical trials that included patients hospitalised with mild-to-severe Covid-19".

Cipla, Zydus Cadila and Dr Reddy Laboratories are among the top drugmakers that have bagged the contract for the manufacturing of Remdesivir in India.

These are the remdesivir drug manufacturers in India:

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CompanyBrandRemdesivir Price
Zydus Cadila Remdac ₹2800
Hetero LabsCovifor ₹5000-₹6000
Dr ReddyRedyx₹5400
Cipla Cipremi₹4000

However not all experts are convinced of Remdesivir’s ‘effectiveness’

The Remdesivir COVID-19 vaccine has received much criticism from experts over its effectiveness. Even a WHO Solidarity trial examined the effects of remdesivir, and three other treatment candidates in more than 11,000 patients in 30 countries and the results from the clinical trial found that none of the drugs “substantially affected mortality,” reduced the need to ventilate patients or shortened hospital stays.

“These remdesivir, hydroxychloroquine, lopinavir, and interferon regimens appeared to have little or no effect on hospitalized COVID-19, as indicated by overall mortality, initiation of ventilation and duration of hospital stay,” the report said.

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SEE ALSO: Trump calls India, China and Russia ‘filthy’ while justifying exit from Paris Agreement

Gilead's remdesivir just got the first FDA approval to be used as a treatment for coronavirus patients

Top stocks to watch — Cipla, Zydus Cadila, Dr Reddy Laboratories, Tech Mahindra, Avenue Supermarts, Cochin Shipyard, and others

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