Natco Pharma shares gain over 3 pc

Shares of Natco Pharma on Monday gained over 3 per cent after the drug major said it has sought approval from the Central Drugs Standard Control Organization (CDSCO) in India for phase-III clinical trial of Molnupiravir capsules for the treatment of COVID-19 positive patients.

The stock jumped 3.29 per cent to close at Rs 906.70 on the BSE. During the day, it gained 7.53 per cent to Rs 944.

On the NSE, it closed at Rs 907.90, higher by 3.44 per cent.

CDSCO is responsible for the approval of drugs, the conduct of clinical trials, laying down the standards for drugs, control over the quality of imported drugs in the country, and coordination of the activities of state drug control organisations.

''Natco Pharma 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,'' the company said in a regulatory filing.

Natco Pharma said pre-clinical data have shown that Molnupiravir has broad anti-influenza activity, including highly potent inhibition of SARS-CoV-2 replication.