Natco Pharma climbs 10 per cent on DCGI approval to begin production of 'Black Fungus' drug

The shares of Natco Pharma climbed over 10 per cent intraday on May 24, 2021, following the Drug Controller General of India (DCGI) approval to begin production of antifungal drug Amphotericin B liposomal injection, which is believed to be critical in the treatment of Mucormycosis, also called 'Black Fungus'. 

India has reported more than 8,800 cases of Mucormycosis in a growing epidemic of the disease with the western states of Gujarat and Maharashtra reporting more than half of the reported cases.  

Meanwhile, Natco also said the company has initiated a Phase-III clinical trial of Molnupiravir capsules in India to evaluate its efficacy in treating patients with mild COVID-19. The clinical trial is planned in 32 hospitals across the country and pre-clinical data found that Molnupiravir has broad anti-influenza activity, including highly potent inhibition of SARS-CoV-2 replication, the drug firm noted. 

At 3.15 pm on Monday, the shares Natco Pharma Limited were trading at Rs 1081.60, up by 9.16 per cent or Rs 90.80 per share, against a 0.15 per cent gain in the benchmark index. The 52-week high of the company is recorded at Rs 28.65 and the 52-week low is recorded at Rs 19.10 on BSE.