Natco Pharma share price hits 52- week high on DCGI nod for production of 'Black Fungus' drug

Natco Pharma share price jumped over 11 percent in the morning session on May 24. The stock has been in focus after the Drug Controller General of India (DCGI) approved application of five companies incuding Natco Pharma to begin production of antifungal drug Amphotericin B liposomal injection, which is critical in the treatment of Mucormycosis, also called 'Black Fungus'.

The company on May 21 said it has initiated phase-III clinical trials of Molnupiravir capsules to evaluate its efficacy in treating patients with mild COVID-19. The Hyderabad-based firm said the first dose under the phase-III trials was given to a patient in the city-based Yashoda Hospitals.

"Phase-III clinical trial is initiated to evaluate the efficacy and safety of Molnupiravir capsules in mild COVID-19 patients," Natco Pharma said in a regulatory filing. The clinical trial is planned in 32 hospitals across the country.

The pharma has received final approval from the US Food and Drug Administration (US FDA) for abbreviated new drug applications (ANDA) for two products, including an anti-cancer drug for which the company and its marketing partner had settled a litigation with Celgene.