Covid-19 throws up drug supply opportunity for Ipca, other pharma firms

Sun Pharma, Dr Reddy's, Torrent Pharma, Cipla, Cadila Healthcare and Natco Pharma would also benefit from malaria drug supplies, Alembic Pharma from azithromycin sales

Ipca Laboratories, which climbed over 17 per cent intra-day to a fresh 52-week high, closed flat on Monday mainly due to the steep correction of over 13 per cent in leading indices. Sentiment on the street got a shot in the arm with US FDA making exceptions to its import alert for Ipca’s active pharma ingredients (API) and finished products of hydroxychloroquine sulphate and chloroquine phosphate. Anti-malarial drugs have been highlighted to have potential use in curing Covid-19.

The news is significantly positive for Ipca, which had been reeling under FDA import alerts for its manufacturing facilities since 2015. Analysts