Cadila Healthcare shares climb 4% on receiving DCGI approval for a COVID-19 drug

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Cadila said in its Phase III clinical trials, the therapy had shown better clinical improvement in the patients suffering from COVID-19.

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Shares of Cadila Healthcare climbed almost 4 percent in afternoon trade on April 23 after it said Zydus Cadila has received emergency use approval from DCGI for the use of ‘Virafin’, Pegylated Interferon alpha-2b (PegIFN) in treating moderate COVID-19 infection in adults.

“…the company has received restricted emergency use approval from the Drug Controller General of India (DCGI) for the use of ‘Virafin’, Pegylated Interferon alpha-2b (PegIFN) in treating moderate COVID-19 infection in adults,” the company said in a BSE filing.

“A single dose subcutaneous regimen of the antiviral Virafin will make the treatment more convenient for the patients. When administered early on during COVID, Virafin will help patients recover faster and avoid much of the complications. Virafin will be available on the prescription of a medical specialist for use in hospital or institutional setup,” it added.

Speaking on the development, Dr. Sharvil Patel, Managing Director, Cadila Healthcare Limited said: “The fact that we are able to offer a therapy which significantly reduces the viral load when given early on can help in better disease management. It comes at a much-needed time for patients and we will continue to provide them access to critical therapies in this battle against COVID-19.”

Cadila said in its Phase III clinical trials, the therapy had shown better clinical improvement in the patients suffering from COVID-19. During the trials, a higher proportion of patients administered with PegIFN arm were RT PCR negative by day 7. The drug ensures faster viral clearance and has several add-on advantages compared to other anti-viral agents, said the company.

Shares of the company traded 2.82 percent up at Rs 567.85 on BSE at 1505 hours.