Syngene International jumped 5.74% to Rs 479.80 after the company said it received ICMR approval for HiMedia-Syngene's COVID-19 antibody test kit, ELISafe 19.
Syngene International and HiMedia Laboratories have collaborated to manufacture ELISafe 19, an IgG based ELISA test kit for COVID-19 now approved by the Indian Council of Medical Research (ICMR). The ELISafe 19 antibody test kit has a sensitivity of 100% and specificity of 99%.HiMedia Laboratories is a bioscience company with expertise in media manufacturing and diagnostics. Syngene developed the IgG based ELISA at its research facility in Bengaluru and partnered with HiMedia to manufacture and commercialise the product. HiMedia is seeking approval from the Central Drugs Standard Control Organisation (CDSCO) and will launch the kits once approval is in place.
The use of an IgG antibody test offers the opportunity to study and understand the percentage of population exposed to SARS-CoV-2 infection. The ELISafe19 kit is intended for qualitative detection of IgG SARS-CoV-2 antibodies using the standard ELISA method on human serum/plasma samples. The kit will also help to identify the IgG immune status of COVID-19 recovered patients so that their plasma can be used for therapeutics.
Syngene International's consolidated net profit dropped 19.4% to Rs 58 crore on 0.2% increase in net sales to Rs 421.60 crore in Q1 June 2020 over Q1 June 2019.
Syngene International is an integrated research, development and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty chemical sectors.
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