BENGALURU (Reuters) – Glenmark Prescription drugs Ltd GLEN.NS stated on Thursday it can begin medical trials in India of antiviral drug favipiravir, seen as a possible therapy for COVID-19, sending its shares up as a lot as 9%.
The trials come after a Chinese language official advised reporters final month that an energetic ingredient of the drug had been efficient, with no apparent unintended effects, in serving to coronavirus sufferers recuperate.
Favipiravir is manufactured beneath the model identify Avigan by a unit of Japan’s Fujifilm Holdings Corp 4901.T and permitted to be used as an anti-flu drug within the nation in 2014.
Mumbai-based Glemark stated the approval made it the primary pharmaceutical firm in India to be given the go-ahead to begin trials on COVID-19 sufferers within the nation, which recorded its 1,000th coronavirus-related dying on Wednesday.
“After having efficiently developed the API (energetic pharmaceutical ingredient) and the formulations … Glenmark is all geared to instantly start medical trials on favipiravir on COVID-19 sufferers in India,” Sushrut Kulkarni, government vice-president for international R&D, Glenmark Prescription drugs, stated in an announcement reut.rs/2VNF43h.
Drugmakers internationally have been dashing to develop a therapy or vaccine for the fast-spreading coronavirus that has killed over 220,000 individuals and ravaged monetary markets.
Early medical trial outcomes on Wednesday from Gilead Sciences Inc’s GILD.O experimental antiviral drug remdesivir confirmed it helped sufferers recuperate extra shortly from the sickness attributable to the coronavirus.
Glenmark will initially enroll 150 sufferers with mild-to-moderate COVID-19 in a randomized trial that may evaluate favipiravir with normal supportive care. The trial will final for a most of 28 days, it stated.
The Drug Controller Normal of India, which permitted the trials, declined to supply extra detailed data.
One other Indian pharmaceutical firm, Strides Pharma Science Ltd SRID.NS, stated on Wednesday it had developed and commercialized favipiravir antiviral tablets, and had utilized to the authorities to begin trials.
Shares of Glenmark Prescription drugs pared some beneficial properties and have been buying and selling up 4.8% at 0540 GMT.
(This story corrects typo in paragraph 1)
Reporting by Anuron Kumar Mitra in Bengaluru, Modifying by Sherry Jacob-Phillips and Sriraj Kalluvila