New Delhi, Nov 18 (PTI) 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.

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"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'.

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Cipla said MultiG rapid antibody kit has been commercialised in over 20 countries already, with sensitivity and specificity exceeding 92 per cent.

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 per cent lower at Rs 741 apiece on BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)