Natco Pharma share price jumped over 7 percent intraday on April 26 after the company said it has applied for the emergency approval of Molnupiravir capsules for COVID-19 treatment.
" .... has applied to the Central Drugs Standard Control Organization (CDSCO) in India for approval of Phase-III clinical trial of Molnupiravir Capsules for the treatment of COVID-19 positive patients," company said in the release to the exchanges.
"Pre-clinical data have shown that Molnupiravir has broad anti-influenza activity, including highly potent inhibition of SARS-CoV-2 replication," the company said in a statement.
Also Read: COVID-19 treatment | Natco Pharma seeks approval to launch phase-3 trial of Molnupiravir
Patients treated with Molnupiravir achieved response within 5 days of therapy indicating that the duration of treatment with Molnupiravir is short, with the additional advantage of being an oral therapy.
Natco is hoping that CDSCO would give emergency approval of this drug based on “compassionate use” for patients.
“Compassionate use” approval is given for investigational drugs so a patient with an immediately life-threatening condition can gain access to the drug. The company is ready to launch the product this month if approval is given.
At 10:45 hrs, Natco Pharma was quoting at Rs 932.65, up Rs 54.80, or 6.24 percent on the BSE.
The share touched a 52-week high of Rs 995.05 and a 52-week low of Rs 556.50 on 28 September, 2020 and 15 May, 2020, respectively.
Currently, it is trading 6.27 percent below its 52-week high and 67.59 percent above its 52-week low.
