Glenmark Pharmaceuticals stated Thursday it’d begin clinical trials in India of antiviral drug favipiravir, seen as a potential treatment for COVID-19, sending its shares up as much as 9%.
The trials come after a Chinese official advised reporters in March that an energetic ingredient of the drug had been effective, with no obvious side effects, in helping coronavirus patients get well.
Favipiravir is manufactured under the brand name Avigan by a unit of Japan’s Fujifilm Holdings and accredited for use as an anti-flu drug in the nation in 2014.
Mumbai-based Glenmark stated the approval made it the primary pharmaceutical company in India to be given the nod to start trials on COVID-19 sufferers in the nation, which recorded its 1,000th coronavirus-related death on Wednesday.
Drugmakers internationally have been rushing to develop a remedy or vaccine for the quick-spreading coronavirus that has killed over 220,000 people and ravaged financial markets.
Early medical trial results Wednesday from Gilead Sciences Inc’s experimental antiviral drug remdesivir showed it helped sufferers get well more shortly from the illness attributable to the coronavirus.
Glenmark will initially register 150 sufferers with mild-to-moderate COVID-19 in a randomized trial that will evaluate favipiravir with standard supportive care. The trial will last for most of 28 days, it stated.