Glenmark Pharmaceuticals on Friday (19 June) said it received Indian drug regulator's approval to launch the oral antiviral drug, Favipiravir, for treating mild to moderate COVID-19 patients in India.
The Drug Controller General of India (DCGI) has granted the approval based on evaluation of data and in consultation with an expert committee, considering the emergency situation and unmet medical need of the COVID-19 outbreak. It is for restricted emergency use in India. Restricted use entails responsible medication use where every patient must have signed informed consent before treatment initiation.Global pharma companies are vying to develop COVID-19 drug. Coronavirus started in central China and spread faster in the rest of the world. The epidemic has grown to infect over 86,63,135 people with over 460,005 fatalities. India reported 1,68,269 active cases of COVID-19 infection and 12,948 deaths, according to the data from the Ministry of Health and Family Welfare, Government of India.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries. Glenmark's key therapy focus areas globally are respiratory, dermatology and oncology.
Shares of Glenmark Pharmaceuticals rose 0.93% at Rs 409.10 on Friday.
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