Shares of the Hyderabad-based drug maker – Vivimed Labs – have been locked in a 5 per cent higher circuit at Rs 28.45 after it obtained authorities of India’s approval to fabricate and market Favipiravir Tablet 200 mg and 400 mg for Indian market.
“Vivimed Labs Limited, a niche specialty chemicals and pharmaceuticals company, announced today, the receipt of Government of India (Director General of Health Services) approval to manufacture and market Favipiravir Tablet 200 mg and 400 mg under Vivimed’s own brand name “Favulous” across India,” the corporate stated in a press launch.
Favipiravir is indicated to deal with gentle to reasonable instances of Covid-19 an infection and is in brief provide owing to rising Covid-19 infections within the nation.
Favipiravir is likely one of the main oral anti-viral remedy accepted in numerous international locations for the potential remedy of sufferers with gentle to reasonable Covid-19 illness, the corporate stated.
Favipiravir registered highest gross sales within the month of April 2021. To register as high pharma model within the home market Fabiflu marketed by Glenmark noticed gross sales of Rs 762 crore, Vivimed Labs added.
“With huge spike in Covid19 cases being reported daily in India, there is an urgent need to provide more reatment options to healthcare professionals. We are launching “Favulous” at a competitive price to make the drug accessible to more and more patients thereby ensuring good health and reducing their financial burden. This is in line with Vivimed’s commitment to be at forefront in India’s fight against Covid-19,” Ramesh Krishnamurthy, CEO of Vivimed Labs Ltd stated in an announcement.
As of 12:13 pm, Vivimed Labs was locked in 5 per cent higher circuit at Rs 28.45 with over 7 lakh pending purchase orders on the BSE.