Cipla inks licensing deal with Belgium's MultiG for distribution of COVID-19 antibody test kit

Updated : November 18, 2020 11:22 AM IST

Drug major Cipla on Wednesday said it signed a licensing agreement with a Belgium-based MultiG for the distribution of their COVID-19 rapid antibody test kit, across most emerging markets and Europe. This licensing agreement is part of Cipla’s efforts to enhance global access to life-saving treatments and diagnostic infrastructure for patients in need, the company said in a regulatory filing.

”As part of this agreement, Cipla will be responsible for distribution of the COVID-19 rapid antibody kit that will be manufactured by MultiG” the company added. MultiG’s rapid antibody kit is marketed under the brand name ’Covi-G’. Cipla said MultiG rapid antibody kit has been commercialised in over 20 countries already, with sensitivity and specificity exceeding 92 percent.

Cipla said its expansive reach, network and partnerships with public health authorities as well as private institutions will help in ensuring the seamless access of these kits across over 25 markets in Asia, Middle-East and North Africa, Latin America, EU and Australia. Shares of Cipla were trading 0.20 percent lower at Rs 741 apiece on BSE.

Also Read: USFDA approves first COVID-19 test kit for home use

Cipla inks licensing deal with Belgium's MultiG for distribution of COVID-19 antibody test kit

You May Also Like

Closing Bell: Sensex ends 1,939 points lower, Nifty at 49,100 amid global market selloff; all sectors in red

Stock Market Highlights: Bears tighten grip; Sensex slumps 1,939 points; Nifty ends below 14,600 on heavy sell-off

Sensex plunges over 1,700 points: Key reasons behind the market rout

Trending on CNBC-TV18

recommended for you