Diversified entity ITC on Thursday confirmed that it is developing a nasal spray for COVID-19 prevention for which it has initiated clinical trials.
Developed by scientists at ITC Life Sciences and Technology Centre (LSTC), Bengaluru, the company plans to market the nasal spray under the Savlon brand once it gets all the requisite regulatory approvals, according to sources.
When contacted for comments, a spokesperson of ITC said, "We are unable to share more details at the current moment as the clinical trials are underway."
The spokesperson declined to comment on a detailed query on where is the clinical trial being done, from where the commercial production would be done when approved and under what brand the nasal spray would be marketed.
However, sources said the company had received approvals from ethics committees and is registered with Clinical Trial Registry-India (CTRI) for clinical trials of the nasal spray which is designed to arrest the virus at the entry point in the nasal cavity itself.
They further said the product has the potential to be effective and safe in preventing infection and transmission of COVID-19 along with the existing measures of hygiene recommended by health authorities.
ITC's LSTC has been at the core of the company's drive for science led product innovation to support and build its wide range of product portfolio.
ITC Q4 consolidated net profit falls 3%, declares final dividend of Rs 5.75
ITC records sharpest intra-day gain in two months ahead of Q1 results
ITC Q2 preview: Analysts see 13% YoY revenue jump; high costs may hit PAT
Here's why CLSA is bullish on ITC; sees the stock Rs 265 levels in a year
ITC hits 52-week high as Jefferies raises target; stock up 12% in 3 days
India Inc to show significant EBITDA growth in next 12-18 months: Moody's
BlackRock, Canada Pension bought more Paytm stock after weak market debut
Citigroup to split Institutional Clients Group's operations, tech functions
Reliance to transfer Jamnagar asset to subsidiary for syngas production
Bharat Biotech updates Covaxin efficacy to 65.2% against Delta variant
The company's R&D teams were instrumental in developing a range of innovative health and hygiene offerings that were commercially made available under the Savlon brand, during the pandemic.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)