Shares of Drug firm Bajaj Healthcare surged around 14% in Tuesday's early deals after the company on Monday said it has moved the Indian Patent Office requesting to grant compulsory licence for manufacturing and supply of COVID-19 drug Baricitinib. Bajaj Healthcare shares were up 13.8% at ₹820 per share on the BSE. “We have moved the Indian Patent Office to grant compulsory licence for manufacturing & supply of Covid Drug Baricitinib (API and formulation). Currently the drug Baricitinib is licensed to US pharma giant Eli Lilly & Company, by its originator company INCYTE, providing them the rights for marketing it across the globe," Bajaj Healthcare Ltd Joint MD Anil Jain said. Considering Bajaj Healthcare's manufacturing capabilities and strong in-house R&D team, "we can produce 'Baricitinib' at very competitive and affordable prices in India," he added.

Source: Mint June 29, 2021 05:48 UTC