India's Everest Organics Ltd said on Tuesday it had started making the active pharmaceutical ingredient (API) for a generic version of Merck & Co's experimental antiviral drug molnupiravir to treat mild to moderate COVID-19.
Shares of Everest Organics jumped as much as 11.6 per cent after the news came in, and were last up 9.9 per cent at Rs 330 in a weak Mumbai market. The Indian bulk drugs manufacturer joins Divi's Laboratories Ltd as an API maker for Merck's experimental oral drug.
Merck has separately entered into voluntary licensing agreements with at least eight Indian generic drugmakers for molnupiravir, with an aim to turn the country into a manufacturing hub for the drug.
"After the successful development and commercialisation of various COVID-19 drugs such as Oseltamivir, Remdesivir...Everest Organics is on its path of expansion of this portfolio," Chief Executive Officer Srikakarlapudi Sirisha said in a statement.
Merck said on Monday it had sought U.S emergency use authorisation for the drug, putting molnupiravir on course to become the first oral antiviral medication for COVID-19.
The U.S authorisation application was based on data released earlier this month by Merck and partner Ridgeback Biotherapeutics.
The data showed molnupiravir nearly halved the risk of hospitalisation or death in at-risk non-hospitalised patients with mild-to-moderate COVID-19.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Serum Institute's New "High Efficacy" Malaria Vaccine Rolls Out In Africa Over 30% Covaxin Takers Suffered Health Issues After A Year, Claims Study Couple Allege Daughter Died After Taking Covishield, To Sue AstraZeneca 2 French Rafale Jets Collide Mid-Air, Instructor, Pilot Missing "Pivotal Moment": Key Doctor Body Resumes Strike 2 Days After Calling It Off Ayatollah Khamenei Warns Of "Divine Wrath" If Iran Backs Down Against Israel Monkeypox Virus Killed 548 People In This Nation Since Start Of 2024 Tiger Attacks 5 After Escaping From Rajasthan's Sariska Tiger Reserve This US City Has Been Declared America's Least Desirable, Survey Finds Track Latest News Live on NDTV.com and get news updates from India and around the world.