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Divi’s labs grow 10%, Covid drug hits record high on Merck’s positive clinical trial data

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Shares of Hyderabad-based active pharmaceutical ingredient maker Divi’s Laboratories climbed up to 10 per cent to hit a high of Rs 5,313.80, Merck & Co partner Ridgeback Biotherapeutics said on Friday. Hospitalization for people at risk of contracting severe COVID-19. Divi’s Laboratories manufactures the main ingredient of Merck & Co.’s drug. Divi’s Labs informed exchanges on 26 May that it is an authorized manufacturer for Molnupiravir APIs for Merck’s partners in India.

Global drugmaker Merck and partner Ridgeback Biotherapeutics said on Friday that molnupiravir could halve the chances of dying or being hospitalized for people at risk of contracting severe COVID-19, a “potential breakthrough” termed by experts. As per the data released as .

The Nifty Pharma index climbed nearly 2 per cent on the back of a jump in the price of Divi’s Labs shares.

Shares of Divi’s Laboratories have gained 38 per cent so far this year compared to the Sensex, which has gained 25 per cent.

As of 12:34 pm, Divi’s Laboratories was the top gainer in the Nifty with a gain of 8.6 per cent at Rs 5,246, a gain of 0.7 per cent.

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