Syngene International share price gained over 7 percent intraday on September 10 after the company got ICMR's approval for HiMedia-Syngene COVID-19 antibody test kit.
In an exchange filing the company said, "HiMedia Laboratories and Syngene International have collaborated to manufacture ELISafe 19TM, an IgG based ELISA test kit for COVID-19 now approved by the Indian Council of Medical Research (ICMR). The ELISafe 19TM antibody test kit has a sensitivity of 100 percent and specificity of 99 percent."
The stock price was trading at Rs 486.30, up Rs 32.55, or 7.17 percent. It touched an intraday high of Rs 494.15 and an intraday low of Rs 464.70.
It also witnessed a spurt in volume by more than 2.27 times and was trading with volumes of 39,685 shares, compared to its five day average of 13,494 shares, an increase of 194.08 percent.
"Since the beginning of COVID-19 pandemic, there has been an urgent need for simple and specific testing tools that not only detect the presence of the virus but also contribute to the surveillance of the immune response to it. The ELISafe 19TM testing kit fills this gap," said Dr Mahesh Bhalgat, Chief Operating Officer, Syngene International.
"This type of serological detection of SARS-CoV2 antibodies will generate invaluable data and provide the basis for epidemiological studies of immunity in the community: a significant advance in the management of this highly infectious disease in India,” he added.
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