Glenmark zooms 9% as DCGI nod to conduct clinical trials for Favipiravir(COVID-19 drug)


Published On: Thursday, April 30, 2020 | By:

Glenmark zooms 9% as DCGI nod to conduct clinical trials for Favipiravir(COVID-19 drug)

Glenmark Pharmaceuticals shares rallied 9 percent to Rs 359 on the BSE today 30th April 2020) after the company announced that it has received approval from the regulator DCGI (Drug Controller General of India) to conduct clinical trials on Favipiravir Antiviral tablets for COVID-19 patients. The product is a generic version of Avigan of Fujifilm Toyama Chemical, Japan. Glenmark is the first pharmaceutical company in India to be given approval by the regulator to start the trial on COVID-19 patients in India, the company said in a press release. At 09:16 am, the stock was trading 6 percent higher at Rs 350 on the BSE, against a 2 percent rise in the S&P BSE Sensex. Around 740,000 shares have changed hands on the counter the BSE and NSE so far.

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