Bajaj Healthcare shares up 8% as firm launches drug to treat black fungus infection

News24

LAST UPDATED: May 28, 2021, 5:28 p.m.

New Delhi (Anish Yande): Shares of Bajaj Healthcare rose on Friday’s trading session following the launch of the drug for the treatment of black fungus infection in Covid-19 patients. Bajaj Healthcare shares surged 8 per cent to hit a new 52-week high on Thursday. Bharat Petroleum Corporation Ltd shares opened at Rs 635.65 per share rising to an intraday high of Rs 700 per share from the previous close of Rs 636 per share.

Bajaj Healthcare launches the Posaconazole API in India:  

Bajaj Healthcare has launched the Posaconazole API in India which is used to treat Mucormycosis or black fungus. The drug would be used to combat the spread of the black fungus infection in Covid-19 patients.  

The Bajaj Group subsidiary has received approval from Food and Drugs Administration. The drug regulatory body based in Gandhi Nagar, Gujarat has approved Bajaj Healthcare’s proposal to manufacture and market the Posaconazole API  for treating Mucormycosis.

Posaconazole is a triazole antifungal agent that is used for treating Mucormycosis patients. The pharma company would start commercial production of Mucormycosis from the first week of June 2021. Posaconazole API would be available as a prescription-based medication in doses recommended by doctors.

Bajaj Healthcare to expand portfolio through launch of Posaconazole:

The black fungus infection causes discolouration over the nose, and effects such as chest pain,  blurred or double vision, difficulties in breathing and coughing blood. Over 11,000 cases of black fungal infection have been reported in India till now.

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The Joint Managing Director of Bajaj Healthcare, Anil Jain, has said that the availability of an effective treatment like Posaconazole would reduce the pressure on patients. The drug would be a much-needed treatment option against the black fungus infection. Addition of the drug is expected to expand Bajaj Healthcare’s portfolio by 10-20 per cent as the cases are increasing. 

The Indian government has asked its officials abroad to actively seek out

Amphotericin-b, a drug used to treat black fungus infections. Indian missions across the world are involved in securing the drug and supplying it to India.

Image Credit: Google

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