Glenmark shares gains 40% after regulator's nod for COVID-19 drug
Published On: Monday, June 22, 2020 | By: Team KnowMyStock
Shares of Mumbai-based firm Glenmark Pharmaceuticals gained 40 per cent to Rs 572.7 in the intra-day trade on the BSE on Monday after the company on Saturday said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate Covid-19. Glenmark Pharmaceuticals has become the first Indian company to commercially launch an antiviral drug. The stock has surged over 172 per cent in the last three months, The price range of Favipiravir is at Rs 103 per tablet. The drug will be available as a 200 mg tablet at an MRP of Rs 3,500 for a strip of 34 tablets. It is a prescription-based medication, with the recommended dose being 1,800 mg twice daily on day 1, followed by 800 mg twice daily up to day 14. It offers rapid reduction in viral load within four days and provides faster symptomatic and radiological improvement. Favipiravir has shown clinical improvement of up to 88 per cent in mild to moderate Covid-19 cases.
Favipiravir is also undergoing trials in other countries to test its efficacy as a COVID-19 treatment.
“The company has received manufacturing and marketing approval from India’s drug regulator, making FabiFlu the first oral Favipiravir-approved medication in India for the treatment of Covid-19,” Glenmark Pharma said in a statement.
Tags: Glenmark COVID-19 FabiFlu Favipiravir drug
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