India's Bajaj Healthcare hits record high on approval of COVID-19 drug

Laurus Labs

08/07/2021 06:56

** Indian drugmaker's shares  BAJH.BO  gain as much as 10.8%
to a record high of 1,009.80 rupees
    ** BAJH gets license from India's defence research agency to
make and sell COVID-19 drug 2-Deoxy-D-Glucose, known as '2-DG'
 urn:newsml:reuters.com:*:nFWN2OI12H
    ** 2-DG was developed by the Defence Research and
Development Organisation's (DRDO) Institute of Nuclear Medicine
and Allied Sciences in collaboration with Dr Reddy's
Laboratories  REDY.NS 
    ** The drug was given https://bit.ly/3zQVnP3 emergency-use
approval in early May
    ** Last week, REDY announced the commercial launch of 2-DG
at a maximum retail price of 990 rupees ($13.26) per sachet
 urn:newsml:reuters.com:*:nFWN2O900L
    ** BAJH's license follows similar approvals for drugmakers
Shilpa Medicare  SHME.NS  and Laurus Labs  LAUL.NS 
 urn:newsml:reuters.com:*:nL3N2O71TU urn:newsml:reuters.com:*:nL3N2OE1UX      
    ** Up to Wednesday's close, BAJH stock had more than doubled
YTD



($1 = 74.6750 Indian rupees)

 (Reporting by Anuron Kumar Mitra in Bengaluru)
 ((AnuronKumar.Mitra@thomsonreuters.com; +91 99863 58469;))