Bengaluru, Apr 30: Shares of Glenmark Pharmaceuticals Ltd rose almost 9% on Thursday after the Indian drugmaker got an approval to conduct clinical trials with antiviral drug favipiravir, seen as a potential treatment for COVID-19.
Favipiravir, manufactured under the brand name Avigan by a unit of Japan's Fujifilm Holdings Corp and approved for use as an anti-flu drug in the Asian island country in 2014, has been effective, with no obvious side-effects, in helping coronavirus patients recover, a Chinese official told reporters at a news conference last month.
"After having successfully developed the API and the formulations ... Glenmark is all geared to immediately begin clinical trials on favipiravir on COVID-19 patients in India," Sushrut Kulkarni, executive vice-president for Global R&D, Glenmark Pharmaceuticals, said in a statement.
The Drug Controller General of India, the country's drug regulator, did not immediately respond to Reuters request for comment.
On Wednesday, another Indian pharmaceutical company, Strides Pharma Science Ltd, said it had developed and commercialized favipiravir antiviral tablets, and had applied to Indian drug authorities to start trials.
Shares of Mumbai-based Glenmark Pharmaceuticals, which rose as much as 8.9% to 359 rupees ($4.78), was trading up 5.9%, as of 0407 GMT.
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I think this college management will allow girl students to wear tight jeans + t-shair and miniskirts but is not allowing a girl to cover her body. Are we in ancient days where humans had no dress to cover themselves or in the time of Nair kings in kerala who restricted ladies of low caste from covering their chest.
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