Shilpa Medicare rose 3.85% to Rs 572 after the company announced that it had received an in-principle approval from Defence Research & Development Organisation (DRDO) to manufacture and sale of 2-Deoxy-D-Glucose (2DG).
2DG has been given emergency approval by the Drug Controller General of India (DCGI) for COVID-19 patients in the country. Shilpa Medicare Limited is only the second company in India to have entered into similar arrangement with DRDO.
Shilpa has been continuously striving to contribute towards the fight against COVID-19 and this is yet another step by the company after its recently announced arrangement for manufacture and supply of Sputnik V vaccine.
Shilpa Medicare is a global brand in manufacturing and supplying of affordable API and formulation globally in different regulated markets.
The company's consolidated net profit slumped 77.35% to Rs 7.83 crore on 5.44% decrease in revenue from operations to Rs 208.03 crore in Q4 March 2021 over Q4 March 2020.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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