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Natco Pharma seeks approval for COVID drug candidate Molnupiravir; shares jump 7%

Natco said it is hoping that CDSCO would give emergency approval of this drug based on “compassionate use” for patients.

April 26, 2021 / 11:00 AM IST
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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.

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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.

natco

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.



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Moneycontrol News
first published: Apr 26, 2021 11:00 am
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