Mangalam Drugs and Organics Limited announced it is expanding its anti-malaria active pharmaceutical ingredients (API) portfolio with pyronaridine, which was recently pre-qualified by the World Health Organization.
The shares of Mangalam Drugs and Organics Limited were trading at ₹121.68, up by ₹7.71 or 6.76 per cent, on the NSE at 2:05 pm.
The Bill and Melinda Gates Foundation is providing technical assistance for the backward integration of pyronaridine production to enhance cost-competitiveness. Medicine for Malaria Venture (MMV), a non-profit based in Geneva, has endorsed the pyronaridine-artesunate combination therapy for malaria treatment.
This development is expected to position Mangalam Drugs at the forefront of the global anti-malaria API production and drive significant growth and profitability for the company.