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Coronavirus

Japan delays approval of first domestic oral COVID-19 drug

Expert panel wants more data; Shionogi stock sinks 8.5% in Tokyo trade

Shionogi had filed for approval of its oral COVID-19 drug Xocova, with the health ministry in February, but a decision has been delayed. (Source photo by Yo Inoue and courtesy of the company)

TOKYO (Reuters) -- Shares in Shionogi & Co posted their steepest fall in three months on Thursday after a health ministry panel again delayed emergency approval for the Japanese drugmaker's oral treatment against COVID-19.

The stock dropped 8.5% to 6,901 yen as of 10:22 JST, the most since April 13, leading decliners on the benchmark Nikkei index, which was down 0.4%.

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