Bajaj Healthcare surges 11% on receiving DRDO nod to manufacture 2-DG

The company has received a licence from DRDO to manufacture and market "2-Deoxy-D-Glucose" (2-DG) as approved medication for the treatment of COVID-19 patients

Shares of Bajaj Healthcare surged 11 per cent to Rs 1,009.80 on the BSE in intra-day trade on Thursday after the company received a licence from Defence Research and Development Organisation (DRDO) to manufacture and market "2-Deoxy-D-Glucose" (2-DG) as approved medication for the treatment of COVID-19 patients.

"2-DG helps in the faster recovery of hospitalised patients and reduces supplemental oxygen dependence. The drug works by selectively accumulating in the virus-infected cells and prevents virus growth by stopping viral synthesis and energy production. It can be administered only upon prescription and under the supervision of a qualified physician to hospitalised moderate to severe COVID-19 patients as an adjunct therapy to the existing standard of care,” Bajaj Healthcare said in a release.

Bajaj Healthcare is a leading manufacturer of active pharmaceutical ingredients (APIs), intermediates, and formulations.

It was for the ninth straight day that the stock of the pharmaceutical company was trading higher, having gained 43 per cent during the period. In the past three months, it has soared 120 per cent as compared to a 7 per cent rise in the S&P BSE Sensex.

On June 28, 2021, Bajaj Healthcare had announced that it has moved the Indian Patent Office requesting to grant a compulsory license for manufacturing & supply of Covid-19 drug “Baricitinib” (API and formulation).

Currently, Eli Lilly and company has received Emergency Use Authorization (EUA) from the US Food and Drug Administration (FDA) for the distribution and emergency use of “Baricitinib” to be used in combination with Remdesivir in hospitalized adult and pediatric patients aged more than two years with suspected or laboratory-confirmed COVID-19 requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO), Bajaj Healthcare said in a statement. CLICK HERE FOR FULL RELEASE