Shares of Chugai Pharmaceutical, a Japanese drugmaker soared high in Tuesday trade when the UK government discovered Chugai’s “Tocilizumab” is effective in reducing the hospitalization time as well as the risk of death for Covid patients.
In Tuesday morning trade, the shares reached a high of as much as 16.26%, trading around 7% higher than the all-time high.
UK Government announced in a Press Release dated Tuesday, that the Government-funded clinical trial has shown Tocilizumab is amongst the two drugs that have reduced the relative death risk by about 24% when the patients entering intensive care are administered with the drug in 24 hours. Also, they added that patients who suffered from Rheumatoid Arthritis were treated with the same drug and on average, left the intensive care 7-10 days earlier than estimated.
Matt Hancock, U.K’s Health and Social Care Secretary remarked that the results are “another landmark development in finding a way out of this pandemic.”
The Government also assured that they will encourage the use of tocilizumab for the patients admitted in the intensive care units, and NHS will work in association with the manufacturer Roche to make sure that the treatment is available to the patients in the UK. Tocilizumab is a co-development of Chugai and Roche, which is marketed as Actemra or RoActemra. Roche is also the majority shareholder of Chugai.
Following the widespread of the new Covid-19 variant, more contagious than the previous one, Prime Minister Borris Johnson imposed a lockdown in the country last week.
Although countries have started to roll out the vaccines, coronavirus cases continue to spike around the world, following which countries have started to re-impose the social distancing norms. According to data compiled by Acumen Research and Consulting, the novel Covid -19 has affected more than 90 million people with the death toll of around 2 million lives worldwide.
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