Jubilant Life, Cipla rally up to 6% on inking pact with Gilead Sciences

According to the statements issued by Jubilant Life and Cipla, both the firms will have the right to register, manufacture and sell Gilead's Remdesivir drug in 127 countries including India

Shares of Jubilant Life Sciences and Cipla surged up to 6 per cent on the BSE on Wedneday after the two pharmaceutical firms signed non-exclusive licensing pacts with US-based Gilead Sciences Inc to manufacture and sell Remdesivir, the latter's experimental Covid-19 treatment drug, in 127 countries.

At 9:45 am, Jubilant Life Sciences was locked in the 5 per cent upper circuit band at Rs 429.95 on the BSE, while Cipla was trading 1.42 per cent higher at Rs 578 apiece, after touching an intra-day high of Rs 603.5 (up 5.8 per cent). In comparison, the benchmark S&P BSE Sensex was at