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Glenmark Pharma gush 35%, Biggest Intraday Rise in Covid-19 Drug Launch History

biggest-intraday-riseIn Monday trade, Glenmark Pharma shares saw a spout of 35 per cent after the announcement of launching an antiviral drug Favipiravir, under FabiFlu brand name on Saturday to treat mild to moderate Covid-19 patients at a price of Rs 103per tablet.

The company said in a regulatory filing,” The drugs would come in a strip of 34 tablets with a dose of 200 mg Favipiravir per tablet at the maximum retail price of Rs 3,500. FabiFlu is an oral approved treatment of Covid-19 in India.

This is a prescribed medication with recommended 1800 mg twice dose on 1 day, followed by 800 mg twice from 2 nd of day to 14 days.

The Mumbai based drug firm received the approval of manufacturing and marketing from the Drugs Controller General of India (DCGI) on Friday.

Glenmark also said,” Favipiravir would be effective for Covid-19 patients with co-morbid conditions like diabetic and heart diseased with mild to moderate coronavirus symptoms.”

“Favipiravir claims viral load reduction within four days and rapid symptomatic and radiological improvement. It has recorded a clinical improvement in mild to moderate Covid-19 cases by up to 88 per cent”, it said.

The Glenmark Pharmaceutical shares on Monday closed at 27.06 per cent high at Rs 519.80 on BSE.

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