Sun Pharmaceutical Industries rose 1.62% to Rs 503 after the drug major said it commenced Phase II clinical trial on AQCH, a phytopharmaceutical (plant derived) drug for treatment of COVID-19.
The company received approval from the Drugs Controller General of India (DCGI) for conducting Phase II clinical trial in April this year. AQCH, which is being developed for dengue, has shown broad antiviral effect in invitro studies and hence is being tested as a potential treatment option for COVID-19, the drug major said in a statement.
The clinical trial will be conducted across 12 centers in India in 210 patients. The treatment duration for patients will be 10 days. The results of the clinical trial are expected by October 2020. Human safety study of AQCH has already been completed and the drug has been found safe at the recommended dose for Phase II study. The announcement was made during market hours today.
Dilip Shanghvi, managing director, Sun Pharma said, This is the first phytopharmaceutical drug approved for clinical trials by the DCGI as a potential treatment for COVID-19. AQCH has shown anti-SARS-CoV-2 effects in in-vitro studies conducted in collaboration with ICGEB, Italy. These results combined with information on mechanism of action through in-vitro and small animal studies give us the confidence to evaluate this potential treatment option for COVID-19 patients.
The drug maker reported 37.1% decline in consolidated net profit to Rs 399.84 crore on 14.3% rise in total revenue from operations to Rs 8,184.94 crore in Q4 March 2020 over Q4 March 2019.
Sun Pharmaceutical Industries is a specialty generic manufacturing pharma company.
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