Bajaj Healthcare gains over 5% after getting DRDO license to manufacture, sale of 2-DG drug
The DRDO has granted permission to manufacture and market the 2-Deoxy-D-Glucose” in the domestic market
Shares of Bajaj Healthcare advanced over 5% in Thursday’s early trade after the company on Wednesday informed bourses that it has received a licence from DRDO to manufacture and market “2-Deoxy-D-Glucose” (2-DG) as approved medication for the treatment of Covid-19 patients.
The scrip traded 5.15% higher at Rs 958 at around 9.30 am (IST). On the other hand, the benchmark BSE Sensex was up nearly 11 points, or 0.02%, at 53,065.
The Defence Research and Development Organisation (DRDO) has granted permission to manufacture and market the 2-Deoxy-D-Glucose” in the domestic market. 2-DG helps in the faster recovery of hospitalised patients and reduces supplemental oxygen dependence. The drug works by selectively accumulating in the virus-infected cells and prevents virus growth by stopping viral synthesis and energy production. It can be administered only upon prescription and under the supervision of a qualified physician to hospitalised moderate to severe Covid-19 patients as an adjunct therapy to the existing standard of care.
Commenting on the licence received from DRDO for “2-Deoxy-D-Glucose”, Anil Jain, Joint Managing Director, Bajaj Healthcare said “We hope the availability of an effective treatment such as 2-DG will considerably ease the pressure and offer patients much needed and timely therapy option. Most patients ailing from moderate to severe symptoms can benefit from the use of Deoxy-D-Glucose.” The announcement was made after market hours yesterday, 7 July 2021.
Bajaj Healthcare a leading manufacturer of APIs, Intermediates and Formulations. It specialises in the manufacturing of Amino Acids, Intermediates, API, formulations and nutraceuticals.