Cupid Ltd to set up dianostic kits manufacturing facility

Healthcare sector in India is going through a transformation with more emphasis on Diagnosis that is the first step to the disease management, as without accurate identification there is no possibility for right treatment. In India, the diagnostic market is valued at approx. INR 860 billion and expected to grow at healthy rate in upcoming period.

To capitalise on this opportunity, Cupid Limited sees manufacturing of quality diagnostic kits as a rewarding prospect in India supporting self-reliant India and manufacturing base of supply of quality kits to global companies. Cupid Limited is expanding its manufacturing base to medical diagnostic test which included rapid diagnostics tests and ELISA tests both for domestic and exports.

Rapid diagnostic tests (RDTs) are inexpensive, membrane-based and disposable assays that offer visible proof of the presence of liquid analyte sample. An enzyme-linked immunosorbent assay, also called ELISA or ElA, is a test that detects and measures antibodies in blood.

These diagnostic test kits will be used for detection and prevention of COVID-19, Sars-2, Malaria, HIV, Dengue, TB etc.

Cupid Limited intends to develop a state-of-the-art global scale facility that complies to WHO Pre-qualification and USFDA for Manufacturing of Medical diagnostic tests for India and International markets.

The company has also entered into Service Provider and License Agreement with Invex Health Private Limited. Invex will assist in Manufacturing, Marketing, Licensing, etc. of Medical Devices Including Various Testing Kits / Diagnosing Kits.

The Initial Maximum Investment towards Capital expenditure for the Diagnostics Division to be made by Cupid shall be INR 10 Crore.

Shares of CUPID LTD. was last trading in BSE at Rs.214.9 as compared to the previous close of Rs. 211.15. The total number of shares traded during the day was 6249 in over 245 trades.

The stock hit an intraday high of Rs. 216 and intraday low of 210.95. The net turnover during the day was Rs. 1329005.

Source : Equity Bulls

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