Glenmark zooms 9% on DCGI nod to conduct clinical trials for Covid-19 drug

Glenmark is the first pharma company in India to be given an approval by the regulator to start the trial on COVID-19 patients

Shares of Glenmark Pharmaceuticals rallied 9 per cent to Rs 359 on the BSE on Thursday after the company announced that it has received approval from the regulator DCGI (Drug Controller General of India) to conduct clinical trials on Favipiravir Antiviral tablets for COVID-19 patients.

The product is a generic version of Avigan of Fujifilm Toyama Chemical, Japan, a subsidiary of Fujifilm Corporation. As on date, Glenmark is the first pharmaceutical company in India to be given an approval by the regulator to start the trial on COVID-19 patients in India, the company said in a press release.