Cipla - Launch of CIPtest - Angel Broking
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Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd
Cipla Ltd stock up by 0.3% on Launches 'CIPtest' Rapid Antigen Detection Test for COVID-19 Diagnosis. Cipla Limited today announced its partnership with the Premier Medical Corporation Private Limited for commercialization of the rapid antigen test kits for COVID-19 in India. The company will commence supply from this week. This is Cipla's second launch in the diagnostics space after Elifast: SARS CoV-2 IgG ELISA Test Kit. In this collaboration, Cipla will be responsible for the marketing and distribution of the Rapid Antigen Detection Test for the qualitative detection of SARS-CoV-2 antigen that will be manufactured by Premier Medical Corporation Private Limited. The test is a rapid point-of-care nasopharyngeal swab test that directly detects the presence or absence of coronavirus antigen in the patient's body, generating results within 15-20 minutes. CIPtest is a reliable high-performing kit that has been validated and approved by ICMR. It is found to have specificity and sensitivity of 98.09% and upto 75% respectively. This is very positive development for the company, demand for covid tests is huge as in India. Covid-19 positive cases are around 30K-40K per day and even there is the fear of 2nd or 3rd wave of Covid in India.