The biotech company signed an agreement with MPP (Medicine Patient Pool) for the manufacturing of the oral COVID-19 antiviral medication Molnupiravir.
Commenting on the development, Dr. Satyanarayana Chava, the founder and chief executive officer (CEO) of Laurus Labs, said, "We are happy to sign an agreement to manufacture the oral COVID-19 antirviral medication, which is an urgent need of the hour, this is one of the most critical step towards fighting the pandemic and we are happy to contribute to the mission."
The pharma company's consolidated net profit fell 16.7% to Rs 201.90 crore on 5.7% increase in net sales to Rs 1,203.48 crore in Q2 September 2021 over Q2 September 2020.
Shares of Laurus Labs rose 0.58% to Rs 488.25 on BSE. Laurus Labs is a fully integrated pharmaceutical and biotechnology company, with a leadership position in generic Active Pharmaceutical Ingredients (APIs) and a major focus on anti-retroviral, Hepatitis C, and oncology drugs.
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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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