Glenmark Pharmaceuticals has launched its antiviral drug Favipiravir, under the brand name of FabiFlu, for the treatment of patients with mild to moderate Covid-19 at a price of about Rs 103 per tablet. With this the company’s share climbed 15% to Rs 470.45 apiece on BSE.
Glenmark Pharma stock has gained 180% in less than three months from its 52-week low of Rs 168 apiece, taking the market capitalisation of the company to Rs 13,274.60 crore. “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.
The company announced that the drug will be available as a prescription-based medication for Rs 103 per tablet, with recommended dose being 1800 mg twice daily on day 1, followed by 800 mg twice daily up to day 14.
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