Buzzing Stock: Everest Organics develops new API to treat Covid-19; hits 10 per cent upper circuit!

Everest Organics is preparing to become an active player in the viral segment in the coming future.

Everest Organics has announced the successful development of an anti-viral APl 'Molnupiravir', an additional COVID -19 treatment drug that is being developed at lab scale for the first-line treatment of COVID-19 in adult patients with mild to moderate symptoms. Molnupiravir is administered orally and works by inhibiting the replication of the coronavirus inside the body.

The company has been successful in the development, launch and commercialization of various Covid-19 drugs such as Oseltamivir and Remdesivir in the near past. The company is currently on the path of expanding its portfolio of product offerings. 'Molnupiravir' is an API that reduces the risk of hospitalization and death by approximately 50 per cent for patients with mild or moderate cases of the coronavirus. Everest Organics is preparing to become an active player in the viral segment in the upcoming future.

A few months ago in May 2021, the company had announced the successful development of an anti-fungal API ‘Posaconazole’ meant to treat black fungus patients.

Everest Organics is a pharmaceutical company that is engaged in the business of bulk manufacturing of Active Pharmaceutical Ingredients (APIs) and other drugs for quality-conscious customers around the globe for the past two decades. The USFDA approved API facility in Hyderabad manufactures and exports various products to more than 40 countries as well as caters to local demand in Indian markets. The company supports customers with unique value, niche products range and a research-driven approach.

Shares of Everest Organics are locked in the 10 per cent upper circuit, at an intra-day high of Rs 330 per share on October 12, 2021.