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Ahmedabad-based Lincoln Pharmaceuticals Ltd on Monday said it has received approval to manufacture anti-malarial drug hydroxychloroquine (HCQ), which is being used to combat Covid-19.
The Gujarat Food and Drug Control Administration (FDCA) has given its nod to Lincoln Pharma to manufacture variety of dosages of HCQ and HCQ sulfate, among other compounds, at its manufacturing facility at Khatraj in the Gandhinagar district.
Soon after the announcement on Monday, company shares jumped nearly 5 per cent on the BSE to trade at ₹152.70 in afternoon trades.
However, the development comes at a time when the US Food and Drug Administration (USFDA) has cautioned its citizens against the use of HCQ for outside of hospital treatments. This has raised the concerns about the side effects on the Covid-19 patients leading up to potentially life-threatening cardiac problems.
But the latest approval to Lincoln for HCQ production has brightened the prospects for availability of the drug, which was touted as potential solution to treat Covid-19.
After the necessary approvals from Directorate General of Foreign Trade (DGFT), Lincoln Pharmaceuticals will be able to export these products.
Commenting on the development, Mahendra Patel, Managing Director, Lincoln Pharmaceuticals Ltd, said, “We have all the necessary infrastructure at our state-of-the-art manufacturing facility at Khatraj, Ahmedabad and look to expedite the commercial production of the approved drugs at the earliest. The company is committed to fight the Covid-19 pandemic and is working closely with the governments and relevant stakeholders to ensure uninterrupted supply of medicines. The company has also constituted a task force to handle the distribution of medicines and essential drugs with the primary objective of dealing with any kind of emergency or distress situation by Covid-19.”
Lincoln will make hydroxychloroquine sulfate tablets USP in dosages of 200 mg, 300 mg and 400 mg, and the hydroxychloroquine tablets IP in dosages of 200 mg, 300 mg and 400 mg.
Notably, HCQ is a prescription-based drug in India and commonly recommended to coronavirus patients under treatment for the disease.
India is the largest producer of HCQ in the world.
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