Bajaj Healthcare (BHL) jumped 6.32% to Rs 624 after the company announced the launch of an anti-parasitic Ivermectin tablets, under the brand name Ivejaj, now widely used in control & treatment for COVID-19.
BHL has received approval from India's drug regulator, to manufacture and market "Ivejaj" the oral Ivermectin approved medication in India for the treatment of COVID-19 from 6 May 2021.
Ivermectin is an anti-parasitic drug, which is used to control parasitic roundworm infections and curing parasitic infections, helps to improve health of COVID-19 patients. It works by paralyzing and killing parasites.
Anil Jain, Joint managing director, Bajaj Healthcare said: "We are pleased to add Ivermectin to our growing product portfolios. The second waves is more aggressive and bigger in number than the first. We hope the availability of an effective treatment such as Ivejaj will considerably ease the pressure and offer patients much needed and timely therapy option."
Bajaj Healthcare has successfully developed the active pharmaceutical ingredient (API) and the formulation for Ivermectin through its own in-house R&D team. Most patients ailing from mild to moderate symptoms can benefit from the use of Ivejaj. The drug will be available as a prescription-based medication, with recommended doses.
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The drug controller of India's has granted permissions to supply the Ivejaj in the domestic as well as in overseas market.
Bajaj Healthcare is a leading manufacturer of APIs, intermediates and formulations. It specializes in manufacturing of of amino acids, intermediates, API, formulations & nutraceuticals.
The company's net profit surged to Rs 326.1% to Rs 26.42 crore on a 79.6% to Rs 178.33 crore in Q3 FY21 over Q3 FY20.
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