Biocon receives CytoSorb licence to treat COVID-19 patients

The Indian biopharmaceutical company, Biocon Limited has proclaimed that its subsidiary Biocon Biologics has been granted approval for an extracorporeal blood purification (EBP) device known as CytoSorb, by the Drugs Controller General of India (DCGI).

CytoSorb works on reducing pro-inflammatory cytokines levels in critical COVID-19 patients. CytoSorb therapy serves to ease cytokine storm and the deadly inflammatory response through blood purification in order to mitigate or prevent this injury.

The Indian health regulator has granted this licence for emergency use of CytoSorb to treat COVID-19 patients who are major i.e. whose age is greater or equal to 18 years. The licence will be active until the coronavirus outbreak is controlled in the country.

Biocon has recently declared its last quarterly financial results for FY19-20. Its consolidated revenue stood at Rs 1,581 crore, registering 3.4 per cent YoY increase. EBITDA for the quarter fell by 20.9 per cent YoY to Rs 318.6 crore while the EBITDA margin stood at 20.2 per cent. PAT came in at Rs 123.4 crore posting YoY decline of 42.3 per cent.

Biocon's stock opened today at Rs 358.60 and gained nearly one per cent, making an intraday high of Rs 363.10 on BSE.