Biocon’s stock soared nearly 5 percent intraday on July 14, after the firm announced it was preparing to launch Itolizumab biological drug at a price of Rs 8000 per vial for mild to serious COVID-19 patients.
The firm has been licensed for the marketing of Itolizumab injection 25mg/5mL solution for emergency treatment of the cytokine release syndrome of mild to extreme acute respiratory distress syndrome (ARDS) for COVID-19 from the Drugs Controller General of India (DCGI).
Itolizumab will be produced in Biocon Park, Bengaluru, as a formulation for intravenous injection, the company said.
Biocon stated that Itolizumab approval by DCGI was based on the results of a randomized, controlled trial in several hospitals in Mumbai and New Delhi, and was successfully completed.
The focus of the study was Itolizumab’s safety and effectiveness in preventing CRS in moderate to severe COVID-19 patients. The business has hit primary endpoints for a mortality rate reduction and obtained more key secondary endpoints for effectiveness and biomarkers.
Shares of the company traded 3.17 percent up at Rs 427.75 on BSE around 11:10 hours. This will be its fifth consecutive session of gains if the stock finishes in the green
