Bajaj Healthcare Hits Record High On Receiving License To Market Covid Drug 2DG

Bajaj Healthcare rose as much as 11% to hit record high of Rs 1,009.80 after it received license from DRDO to market Covid treatment drug 2-DG.

Bajaj Healthcare Hits Record High On Receiving License To Market Covid Drug 2DG

Shares of the drug maker - Bajaj Healthcare - rose as much as 11 per cent to hit record high of Rs 1,009.80 after it received license from Defence Research and Development Organisation (DRDO) to manufacture and market Covid treatment drug 2-Deoxy-D-Glucose (2-DG). Bajaj Healthcare is the second company after Laurus Labs to receive DRDO's nod to market and manufacture 2DG.

2-Deoxy-D-Glucose" (2-DG) helps in the faster recovery of hospitalised patients and reduces supplemental oxygen dependence. The drug works by selectively accumulating in the virus-infected cells and prevents virus growth by stopping viral synthesis and energy production, Bajaj Healthcare said in a press release.

"We are pleased to add 2-Deoxy-D-Glucose to our growing product portfolios after receiving license from DRDO. The second waves of coronavirus is more aggressive and bigger in number than the first. Our countries medical infrastructure is really struggling with scarcity of oxygen capacities. We hope the availability of an effective treatment such as 2-Deoxy-D-Glucose (2-GD) will considerably ease the pressure and offer patients much needed and timely therapy option. Most patients ailing from moderate to severe symptoms can benefit from the use of Deoxy-D-Glucose," said Anil Jain, joint managing director, Bajaj Healthcare.

The first batch of anti-COVID oral drug 2-DG, developed by the DRDO, was released in May by Defence Minister Rajnath Singh and former Health Minister Harsh Vardhan.

As of 12:23 pm, Bajaj Healthcare shares traded 7.5 per cent higher at Rs 980, outperforming the Sensex which was down 0.5 per cent.