Share of Natco Pharma rose 20 per cent to hit a fresh 52-week high of Rs 1188.95 in early tradeafter the Drug Controller General of India (DCGI) gave its nod to the firm start manufacturing antifungal anti-fungal drug Amphotericin B liposomal injection. Its demand has increased in the wake of a surge in black fungus infections. Four other firms Alembic Pharmaceuticals, Emcure Pharmaceuticals, Gufic Biosciences and Lyca Pharmaceuticals have also received DCGI's permission to produce the injection.
Amphotericin B is used in the treatment of black fungus or Mucormycosis and is currently in short supply.
The stock opened 20 per cent higher at Rs 1188.95 against the previous close of Rs 990.80. The stock has gained 28 per cent in the past four trading sessions and risen 13 per cent since the beginning of this year. Natco Pharma share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages.
Presently six firms - BDR Pharma, Bharat Serums and Vaccines, Mylan, Sun Pharma, Cipla, and Life Care - are producing Amphotericin B.
"The existing pharma companies have already started ramping up the production. Indian Companies has also placed orders for importing 6 lakh vials of AmphotericinB," Minister of State for Chemicals and Fertilisers Mansukh Mandaviya said.
Meanwhile, the firm has received final approval from the US Food and Drug Administration (USFDA) for abbreviated new drug applications (ANDA) for two products.
The company informed that its marketing partner, Breckenridge Pharmaceutical Inc. (BPI), has received final approval for Everolimus Tablets and plans to launch 0.25 mg, 0.5 mg, and 0.75 mg strengths of the product shortly.
In another release, the homegrown pharma company announced that it has got final approval of its Abbreviated New Drug Application (ANDA) for Lenalidomide Capsules, 5mg, 1 Omg, 15mg, and 25mg strengths, from the U.S. Food and Drug Administration (FDA), and the tentative approval of the 2.5mg and 20mg strengths.
Natco Pharma on Friday said it has initiated Phase-III clinical trial of Molnupiravir capsules in India. Phase-III clinical trial is initiated to evaluate the efficacy and safety of Molnupiravir Capsules in mild COVID-19 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 company said.
Recently, the company got an 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.