Mumbai: Pharmaceutical company Bajaj Healthcare Ltd said on Tuesday that it is launching antiviral favipiravir for the treatment of ‘mild to moderate’ covid-19 patients’ after receiving manufacturing and marketing approval from the Indian drug regulator. The drug will be launched under the brand name Favijaj.
The launch comes at a time when the country is facing a severe shortage of health facilities and medicines used to treat greedy patients, amid a second wave of the pandemic.
Bajaj Healthcare shares soared in trade after the announcement, closing at $$583.05 on BSE, an increase of 10.85% over the previous close.
Favipiravir is an antiviral drug that has shown potent in vitro activity against coronavirus severe acute respiratory syndrome, the company said in a statement.
“We are pleased to add Favipiravir to our growing product portfolio. The second wave is more aggressive and larger in number than the first. We hope that the availability of an effective treatment like Favijaj will considerably relieve the pressure and offer patients a much needed and timely therapy option, “said Anil Jain, Deputy Executive Director of Bajaj Healthcare.
The company said it developed the active pharmaceutical ingredient (API) and the formulation of favipiravir through its own in-house R&D team.
“The drug controller in India has granted permissions to supply” Favijaj “(Favipiravir) both domestically and abroad,” he said.