Mangalam Drugs clocks fresh 52-week high on securing grant to develop antimalarial drug

Over the past year, shares of the firm have risen around 40 percent.

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26 Aug, 2025 12:21

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Small-cap pharma player Mangalam Drugs and Organics saw its share price jump to a fresh 52-week high on August 26 after the firm was awarded a grant by The Medicines for Malaria Venture (MMV).

The grant award by MMV amounts to $274,800 and is designated for the research and development of Pyronaridine. Given the firm's total market-cap of Rs 224.1 crore, this grant - when converted to rupees - is the same as 10 percent of the firm's market capitalization!

At 2.40 pm, shares of Mangalam Drugs were quoting Rs 141.5 on the NSE, higher by 6.5 percent compared to the previous close.

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"The grant will support research and development efforts aimed at improving the technology and efficiency of pyronaridine production, with an estimated international market size to reach 50 million treatments in the next few years," said the firm.

Mangalam Drugs & Organics plans to commercialize this product by the end of 2024 which will position the company at the forefront of global anti-malaria API production and performances.

The Medicines for Malaria Venture (MMV), headquartered in Geneva, Switzerland, is a nonprofit organization committed to the development and support of innovative antimalarial therapies. MMV focuses on advancing new treatments for malaria and optimizing combination therapies.

Over the past year, shares of the firm have risen around 40 percent as against a 26 percent rise in the frontline Nifty 50 index.

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