The drug major on Wednesday announced the launch of its Favipiravir in India under the brand name Covihalt for the treatment of mild to moderate COVID-19.
Favipiravir has received authorization from the Drug Controller General of India (DCGI) for emergency use. Lupin's Covihalt dosage strength has been developed keeping in mind convenience of administration. It is available as 200 mg tablets in the form of a strip of 10 tablets, and priced at Rs 49 per tablet.Commenting on the development, Rajeev Sibal, the President - India Region Formulations (IRF), has stated that: "Lupin has always been committed to the fight against life-threatening diseases. COVID-19 is a global pandemic and in India we are seeing a surge in the number of cases on a daily basis. In these tough times, it is our duty to support the nation in fighting this pandemic and ensuring affordable drugs are made available for impacted patients. Covihalt, Lupin's Favipiravir drug, is a vital step in this direction. We believe that we can leverage our expertise in managing widespread community diseases like TB to proactively reach patients across India and ensure access to Covihalt through our strong distribution network and field force."
Lupin's consolidated net profit jumped 32% to Rs 391.29 crore on 0.4% slip in net sales to Rs 3,791 crore in Q4 March 2020 over Q4 March 2019.
The scrip fell 0.87% to Rs 932.50. Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and APIs in over 100 markets.
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