- Pharma company stocks is the only sector gaining in the weak market on Wednesday on optimism to sell anti-covid drugs approved by the drug regulator.
- The pharma regulator gave approval to sell
Molnupiravir drug, which is an anti-COVID pill, for emergency use in the country. Sun Pharma ,Cipla , Torrent Pharma andStrides Pharma have already announced plans to launch their version of this pill soon amid rising spread of Omicron in the country.
The move comes amid rising spread of Omicron cases in the country. Indian companies will manufacture a generic version of Merck's anti-COVID pill Molnupiravir in India.
Molnupiravir is an antiviral medication that is used to treat COVID-19 in those infected. The drug was developed by US-based firms Merck and Ridgeback Biotherapeutics.
The development has brought some optimism for pharma stocks that have been underperforming the market for more than a year.
While Indian companies are manufacturing a generic version from US-based pill, they will market the pill under their respective brands and sell them in pharmacies and COVID-19 treatment centres.
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