Glenmark, Cipla stocks surge after nod to mild Covid drugs

Glenmark Pharmaceuticals' share price surged 30% on Monday to ₹531.80 per unit after it became the first pharmaceutical company in India to receive regulatory approval to make and sell oral antiviral drug favipiravir for treating mild-to-moderate Covid-19 infections. At the same time, Cipla's stock jumped by 4.3% to ₹664.45 per unit after it announced the launch of remdesivir under its brand name Cipremi, reported news agency ANI.

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