Mumbai-based Glenmark Pharmaceuticals today said has received approval from the Drug Controller General of India to conduct clinical trials of antiviral drug favipiravir on coronavirus patients.
The product is a generic version of Avigan of Fujifilm Toyama Chemical Co. Ltd., Japan. This news sent Glenmark shares as much as 9% higher today. "Favipiravir has demonstrated activity against influenza viruses and has been approved in Japan for the treatment of novel influenza virus infections.
Recently in the past few months, post the outbreak of COVID-19, multiple clinical trials have been initiated on COVID-19 patients in China, Japan and in the US," Glenmark said.