Reliance Submits Proposal For Use Of Niclosamide As Potential COVID-19 Drug

by IANS - Jun 3, 2021 09:19 AM +05:30 IST
Reliance Submits Proposal For Use Of Niclosamide As Potential COVID-19 DrugReliance Industries Chairman Mukesh Ambani. Photo: Getty Images

Reliance Industries Limited (RIL) has submitted a proposal for the application of Niclosamide as a potential drug against Covid-19.

As per RIL's annual report for FY20-21, the company is leveraging its intellectual capital to fight Covid-19, and its team is working with various CSIR labs to certify Nexar polymer, which has shown the ability to destroy the lipid layer of various viruses and bacteria.

The annual report said the Reliance R&D team has designed a process to produce sanitisers aligned with WHO specifications at 20 per cent of market cost. Reliance also developed novel cost-effective diagnostic kits called 'R-Green' and 'R-Green Pro' for Covid-19 detection. The kits have received ICMR approval, it said.

The company has submitted a proposal for the application of Niclosamide as a potential drug against Covid-19.

Among other highlights, Reliance is working to address insufficient ventilator supply in emergency rooms across hospitals in India by deploying a concept developed in Italy, which enables CPAP machine with a 3D-printed charlotte valve and special snorkelling mask.

Reliance foresaw the significant rise in demand for onsite oxygen as the pandemic rages, the report said. It has started working on value-engineered robust design for oxygen generators capable of producing 5-7 litres of oxygen per minute with a purity of 90-95 per cent.

Reliance achieved 100 per cent O2C capacity utlilisation despite the pandemic, the report said.

Reliance has also initiated the proceedings of carving out its O2C businesses into a separate subsidiary and the process is expected to be completed in CY 2021.

As per the annual report, O2C reorganisation creates an independent, global-scale growth engine for RIL, with a strong cash flow generation potential while facilitating value creation through strategic partnerships and attracting a dedicated pool of investor capital.

Through the Covid-19 crisis, Reliance operated its O2C facilities at near 100 per cent by shifting products to export markets to sustain operating rates.

Scale economics along with strong competitive cost positions across the chain helped Reliance sustain positive contribution through this unprecedented phase. In addition, diversified customer base, global product placement and feedstock flexibility supported its performance.

The severe demand destruction due to global lockdowns impacted the O2C business. Flexibility in operations and agile response to changing market dynamics enabled operations at near-normal levels and deliver industry-leading results. Domestic demand has recovered sharply across the O2C business, the report said.

Reliance is also redefining fuel retailing through e-commerce in India. Reliance BP Mobility Limited (RBML) is the first oil marketing company (OMC) to get the approval of mobile dispensing unit and the only OMC to use HDPE containers (non-metallic) for on demand delivery of fuel.

With its services spanning across India, it is uncovering the latent needs of the non-transport sector, and meeting these needs with great efficiency, leading the way to market leadership in the non-transport sector, the report said.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

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