Sun Pharmaceutical Industries' stock rose more than 2%, making it the top sectoral gainer with a gain of more than 5% over the two days.
Pharma stocks have been in the spotlight after US drugmaker Eli Lilly and Co announced on May 10 that it had granted Cipla, Lupin, and Sun Pharmaceutical Industries Ltd royalty-free, non-exclusive voluntary licenses to manufacture its Baricitinib drug in India to help combat the second wave of COVID-19 in the country.
At 11.07 Am IST, the stock was trading at Rs 713.00, up Rs 19.70, or 2.13 percent. It climbed to Rs 721, a 52-week high. It has touched an intraday high of Rs 721.90 and an intraday low of Rs 699.05.
Sun Pharma has signed a royalty-free, non-exclusive voluntary licensing agreement with Eli Lilly and Company to expand access to Lilly's Baricitinib in India. The drug will be manufactured and distributed in India by Sun Pharma.
"Baricitinib is used in combination with Remdesivir for the treatment of suspected or laboratory confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO). The drug is approved by the Central Drugs Standard Control Organization (CDSCO) for restricted emergency use in India," Sun Pharma added.