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JB Chemicals shares rise 3% on plans to roll out Molnupiravir in Indian market

JB Chemicals' stock touched a 52-week low of Rs 957 on February 01 and 52-week high of Rs 1,984.75 on September 28, respectively.

December 29, 2021 / 09:43 AM IST
 
 
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Shares of JB Chemicals and Pharmaceuticals rose 3 percent in early tarde on December 29 as the company will launch Molnupiravir in the Indian market.

"JB Chemicals and Pharmaceuticals is set to launch Molnupiravir 200 mg for the Indian market. Marketed under the brand name Molunamax, it will soon be available all across the country in the next month for the treatment of mild COVID-19," the company said in a release.

Recently, Molnupiravir received USFDA Emergency Use Authorization (EUA) for the treatment of mild to moderate COVID-19.

In India, the Central Drugs Standard Control Organisation recently recommended for grant of permission to manufacture and market Molnupiravir 200 mg capsule for restricted use under emergency situations for the treatment of patients above the age of 18 years, who are diagnosed COVID-19 positive, with SpO2 > 93% and those who have a high risk of progression of the disease.

The recommended dose for Molnupiravir is 800 mg (four 200 mg capsules) taken orally every 12 hours for five days, with or without food.

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Completion of the full five-day treatment course is important to maximize viral clearance and may help in minimizing the transmission of SARS-CoV-2, the company said.

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“At a time when India is threatened with the possibility of a third wave, the launch of this product will significantly help the country in its fight against COVID-19," said Nikhil Chopra, CEO & Whole-time Director of JB Chemicals.

At 09:19 hrs, JB Chemicals and Pharmaceuticals was quoting at Rs 1,678.60, up Rs 34.85, or 2.12 percent on the BSE.

The stock hit a 52-week high of Rs 1,984.75 and a 52-week low of Rs 957 on 28 September and 01 February, respectively.

Currently, it is trading 15 percent below its 52-week high and 75 percent above its 52-week low.
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first published: Dec 29, 2021 09:43 am
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