Glenmark Pharma shares rose 40 per cent to Rs 572.70 on Monday, the highest level in the past 52 weeks. The company has launched the antiviral drug Favipiravir. The company has launched this drug under the brand name FabiFlu. This drug can be used in the treatment of moderate Covid-19 patients in India. The shares of the company were trading at Rs 133.90, or 32.73 per cent, at Rs 543 on the BSE on Monday afternoon at 12.20 pm.
Glenmark’s FabiFlu is the first oral Favipiravir approved drug of coronavirus. It has just been launched at some centers. India’s drug regulator company DGCI has allowed limited use of anti-viral drugs in the treatment of coronaviruses.
The tablet of Fabiflu is 200 mg and each of its tablets is priced at Rs 103. A pack of 34 tablets will cost Rs 3500 for a patient. The company has said that this medicine can be used for 14 days.
Sujesh Vasudevan, president of Glenmark Pharma’s India formulation, said, “This drug will be found in hospitals and chemists. It will be necessary to show a doctor’s prescription for this drug. The doctor’s consent will also have to be obtained before recommending this medicine.”