Syngene International surges 9% on ICMR nod for its Covid-19 test kit

Topics Syngene | Buzzing stocks | Markets

The stock had hit an all-time high of Rs 522 on August 26, 2020.
Shares of Syngene International rallied nearly 9 per cent on the BSE on Thursday, a day after the company and HiMedia Laboratories, which have collaborated to manufacture ELISafe 19, an IgG based ELISA test kit for Covid-19, received the approval by the Indian Council of Medical Research (ICMR). 

At 09:52 AM, the stock was trading 8.4 per cent higher at Rs 491.85 on the BSE as compared to a 0.76 per cent rise in the S&P BSE Sensex at 38,483.48 levels. The stock had hit an all-time high of Rs 522 on August 26, 2020. 

The product will be launched once it receives approval from the Central Drugs Standard Control Organisation (CDSCO) next. The test kits, developed indigenously by Biocon’s research arm Syngene, test the presence of SARS-COV-2 antibodies which confirm that a patient has been exposed to the coronavirus. It has the capacity to test samples together in a single run and generates results within three hours. CLICK HERE TO READ THE FULL REPORT

“We appreciate the prompt response of the ICMR in reviewing and approving the ELISafe 19 kit. The kit is a result of a unique combination of skills: Syngene’s expertise in viral research and HiMedia’s ability to manufacture and commercialise the product,” said Vishal G Warke, Director R&D, Cell Culture and Immunology, HiMedia Laboratories.


Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel