You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

ITC gains on buzz of developing COVID-19 nasal spray

Capital Market 

ITC rose 1.27% to Rs 230.80 after the media reported that the company is developing a nasal spray for COVID-19 prevention for which it has initiated clinical trials.

According to the media reports, the nasal spray is 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, reports added.

ITC has reportedly 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.

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, reports suggested.

ITC reported 13.7% rise in standalone net profit to Rs 3,697.18 crore on 11.66% increase in net sales to Rs 12,533.60 crore in Q2 FY22 over Q2 FY21.

ITC is engaged in the marketing of fast-moving consumer goods (FMGC). The firm operates through four segments: FMCG; hotels; paperboards, paper and packaging, and agri business. ITC is the market leader in cigarettes in India. The company also has presence in branded packaged foods, personal care, education and stationery, agarbattis & safety matches, lifestyle retailing, hotels, paperboards & specialty papers, packaging, agri-business & IT.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, November 25 2021. 13:45 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU