“Itolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe Covid-19 complications. Biocon
has repurposed Itolizumab, an anti-CD6 IgG1 monoclonal antibody launched in India in 2013 as ALZUMAb for treating chronic plaque psoriasis, for the treatment of CRS in moderate to severe ARDS patients due to COVID-19,” Biocon
said in a press release.
Itolizumab will be manufactured and formulated as an intravenous injection at Biocon’s bio-manufacturing facility at Biocon Park, Bengaluru, it said.
“This positions India amongst the leading global innovators in their effort to overcome the Covid-19 pandemic. The randomized control trial indicated that all the patients treated with Itolizumab responded positively and recovered. We plan to take this therapy to other parts of the world impacted by the pandemic,” said the company's Executive Chairperson, Kiran Mazumdar-Shaw.
However, in a note, ICICI Securities said, "The company is likely to garner temporary finite opportunity from this drug. We do not expect significant financial benefit from this approval."
At 09:23 am, the stock had partially erased its early morning gain and was trading 3 per cent higher at Rs 428 on the BSE. In comparison, the S&P BSE Sensex was up 0.89 per cent at 36,921 points. A combined 4.6 million equity shares have changed hands on the counter on the NSE and BSE so far.