The drug maker signed a royalty-free, non-exclusive, voluntary licensing agreement with Eli Lilly and Company, for the manufacture and commercialization of the drug Baricitinib for COVID-19 indication in India.
In line with the licensing agreement, Natco Pharma has withdrawn its application filed with the Indian Patent Office, seeking Compulsory License against Lilly for Baricitinib for COVID-19 in India.
Natco Pharma had earlier received an emergency use authorization for Baricitinib tablets, from Central Drugs Standard Control Organization (COSCO), for use in combination with remdesivir, for the treatment of suspected or laboratory confirmed COVID-19 in hospitalized adults requiring supplemental oxygen, invasive mechanical ventilation, or extracorporeal membrane oxygenation (ECMO).
The drug maker's consolidated net profit dropped 39.3% to Rs 63.40 crore on 26.3% fall in net sales at Rs 355.20 crore in Q3 FY21 over Q3 FY20.
Natco Pharma manufactures a comprehensive range of branded and generic dosage forms, bulk actives and intermediates for both Indian as well as International markets.
Shares of Natco Pharma lost 0.94% to Rs 919.60 on BSE. The scrip hovered in the range of Rs 918 to Rs 945 so far.
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