Natco Pharma rose 3.78% to Rs 911 after the company said that it is seeking an emergency approval of Molnupiravir capsules for Covid-19 treatment.
Natco Pharma 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."Pre-clinical data have shown that Molnupiravir has broad anti-influenza activity, including highly potent inhibition of SARS-CoV-2 replication. 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," the drug maker said in a statement.
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.
The drug maker's consolidated net profit dropped 39.3% to Rs 63.40 crore on 26.3% fall in net sales at Rs 355.20 crore in Q3 FY21 over Q3 FY20.
Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.
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