(Yicai Global) March 16 -- Since China approved a Covid-19 treatment from US pharmaceutical giant Pfizer last month, domestic drugmakers have been hurrying to produce similar oral therapies.

VV116, a Covid-19 pill jointly developed by Shanghai-based Junshi Biosciences and Suzhou Vigonvita Life Sciences, is undergoing Phase III clinical studies for treating moderate to severe infections, they said today.

Junshi Biosciences [HKG: 1877] closed up 4.1 percent at HKD50.30 (USD6.43) today. Its Shanghai-listed share price [SHA: 688180] was down 0.8 percent at CNY76.71 (USD12.07) at the close, after earlier surging by as much as 6.6 percent.

VV116 has already been approved in Uzbekistan, Junshi Biosciences said.

Suzhou-based Kintor Pharmaceutical also announced last month that its Proxalutamide drug for treating mild and moderate Covid-19 infections has begun Phase III clinical trials.

In January, Nanjing-based Simcere Pharmaceutical Group said it expected to obtain approval in April to carry out international multicenter clinical trials for its coronavirus pill.

China’s National Health Commission approved Pfizer’s Paxlovid last month, and included it along with a neutralizing antibody injection from Chinese drugmaker Brii Biosciences in the latest Covid-19 diagnosis and treatment plan issued yesterday.

Editors: Dou Shicong, Tom Litting