Natco Pharma up 3% on emergency approval for Baricitinib tablets for Covid-19 treatment

Our Bureau Updated - December 06, 2021 at 07:21 AM.

Natco Pharma was trading at ₹927.60 on the BSE

A private security guard looks out from a window of the head office of Natco in the southern Indian city of Hyderabad March 13, 2012. India's move to strip German drugmaker Bayer of its exclusive rights to a cancer drug has set a precedent that could extend to other treatments, including modern HIV/AIDS drugs, in a major blow to global pharmaceutical firms, experts say. On Monday, the Indian Patent Office effectively ended Bayer's monopoly for its Nexavar drug and issued its first-ever compulsory license allowing local generic maker Natco Pharma to make and sell the drug cheaply in India. REUTERS/Krishnendu Halder (INDIA - Tags: HEALTH BUSINESS)

The shares of Natco Pharma Ltd gained over 3 per cent on Monday, after the company announced that it has received Emergency Use approval for Baricitinib tablets for Covid-19 treatment in India.

At 10:53 am, Natco Pharma was trading at ₹927.60 on the BSE, up ₹30.95 or 3.45 per cent. II hit an intra-day high of ₹935 and an intra-day low of ₹911.40. It had opened at ₹920 as against the previous close of ₹896.65.

Natco Pharma gets emergency nod for Baricitinib tablets to treat Covid-19
 

On the NSE , it was trading at ₹927.20, up 30.85 or 3.44 per cent.

The company on Monday announced that it has received Emergency Use approval for Baricitinib tablets, 1mg, 2mg and 4mg strengths from Central Drugs Standard Control Organization (CDSCO) in India.

“Baricitinib in combination with Remdesivir is used for the treatment of COVID-19 positive patients. 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 said.

Natco is ready to launch the product this week, it further said.

Published on May 3, 2021 06:12