Share price of Natco Pharma rose over 4 per cent today after the company announced that it has received emergency use approval for Baricitinib tablets, 1mg, 2mg, and 4mg strengths from the Central Drugs Standard Control Organization (CDSCO) in India. The company informed that Baricitinib in combination with Remdesivir is used for the treatment of COVID-19 positive patients.
At 12:14 hours, Natco Pharma share was quoting at Rs 924.70, up 3.13 per cent on the BSE. The stock has risen 3.41 per cent in the last six months and 51 per cent over the last 12 months.
"Natco will be requesting a Compulsory License based on emergency use and in light of the grave and serious public health emergency across India due to the Pandemic. The company is ready to launch the product this week, so as to make the product available to suffering patients across India," it added.
Recently, the company also announced that it 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.
According to a press release from Natco, 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," it added.