Cipla launches ‘Covi-G, a rapid antibody test kit for COVID-19

Global pharmaceutical company, Cipla Limited announced on Wednesday that it has it signed a licensing agreement with Multi G, a Belgium-based company for distribution of its Rapid Antibody test kit for COVID-19. Reacting to the news the stock traded 1.23 per cent higher in the early trading session on BSE.

The distribution of Covi-G will be done in Europe and across most of the emerging markets. As a part of the agreement, Cipla will take the responsibility of distribution of the COVID-19 rapid antibody kit manufactured by MultiG which will be marketed under the brandname of ‘Covi-G’.

With extensive reach, partnership and network with the public health authorities and other institutions, Cipla will be ensure uninterrupted access of these kits across more than 25 markets in Asia, Australia, Europe, Middle East, North Africa and Latin America.

Cipla is ranked the third largest pharmaceutical company in the country and also the third largest in pharmaceutical private market in South Africa according to IQVIA MAT data for September 20.

At around 2:51 pm, the stock is trading 0.55 per cent down at Rs 738.4 with an intraday high of Rs 751.65 on BSE. In comparison, S&P BSE Sensex is trading 0.36 per cent higher. Cipla recorded a 52-week high of Rs 829 and a 52-week low of Rs 356.75 on BSE.