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    CIPLA   INE059A01026


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India's Divi's Labs hits record high on Merck's positive trial data for COVID-19 drug

10/04/2021 | 02:57am EST
FILE PHOTO: The Merck logo is seen at a gate to the Merck & Co campus in Rahway, New Jersey

BENGALURU (Reuters) - Shares of India's Divi's Laboratories Ltd, which makes the main ingredient of Merck & Co's experimental antiviral pill, soared 10% on Monday, after the pharmaceutical giant reported positive clinical trial results for the drug.

Global drugmaker Merck and partner Ridgeback Biotherapeutics on Friday said molnupiravir could halve the chances of dying or being hospitalised for those most at risk of contracting severe COVID-19, according to the data released by the companies hailed as a "potential breakthrough" by experts.

The news sent Divi shares up as much as 10% to a record high, which boosted the Nifty Pharma Index 2.4% to an all time peak. Divi's in May had said it was an authorised active pharmaceutical ingredient (API) maker for molnupiravir and is allowed to supply the API to Merck's partners in India.

Shares of generic drugmakers Cipla, Sun Pharma, Dr Reddy's Laboratories and Torrent Pharmaceuticals, which are jointly conducting a clinical trial in India with molnupiravir, also gained between 1.1% and 2.3%.

In July, privately held Hetero Labs said it was also seeking a domestic emergency use nod for the experimental treatment, after interim data from its late-stage trial showed molnupiravir helped reduce hospitalisations in mild cases of COVID-19.

(Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Rashmi Aich)

© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
CIPLA LIMITED -1.00% 912.05 Delayed Quote.12.35%
DIVI'S LABORATORIES LIMITED -0.42% 4757.05 Delayed Quote.23.82%
DR. REDDY'S LABORATORIES LIMITED -1.38% 4598 End-of-day quote.-11.65%
SUN PHARMACEUTICAL INDUSTRIES LTD. -1.89% 751.8 Delayed Quote.29.36%
TORRENT PHARMACEUTICALS LIMITED 0.40% 2984.35 End-of-day quote.6.56%
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Sales 2022 215 B 2 859 M 2 859 M
Net income 2022 27 902 M 371 M 371 M
Net cash 2022 24 768 M 329 M 329 M
P/E ratio 2022 26,3x
Yield 2022 0,56%
Capitalization 736 B 9 778 M 9 780 M
EV / Sales 2022 3,31x
EV / Sales 2023 2,94x
Nbr of Employees 25 672
Free-Float 62,0%
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Technical analysis trends CIPLA LIMITED
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Mean consensus BUY
Number of Analysts 35
Last Close Price 912,05 INR
Average target price 1 057,43 INR
Spread / Average Target 15,9%
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Managers and Directors
Umang Vohra Global Chief Executive Officer, MD & Director
Raju Mistry President & Global Chief People Officer
Kedar Upadhye Global Chief Financial Officer
Yusuf Khwaja Hamied Non-Executive Chairman
Jaideep A. Gogtay Global Chief Medical Officer