Pharmaceutical firm Strides Pharma Science mentioned on Thursday it has acquired regulatory approval to conduct scientific trials of antiviral drug favipiravir, thought-about a possible therapy for COVID-19.
The Bengaluru-based firm has acquired approval from the Drug Controller Normal of India to conduct trials of favipiravir within the nation, Strides founder and non-executive chairman Arun Kumar mentioned on a post-earnings convention name, with out giving any extra particulars.
Strides’ announcement comes after Glenmark Prescribed drugs mentioned final month it turned the primary pharma firm within the nation to get the nod to conduct favipiravir trials. The Mumbai-based firm has initiated late-stage scientific trials and expects examine outcomes by July or August.
Favipiravir is manufactured beneath the model title Avigan by a unit of Japan’s Fujifilm Holdings Corp and was accredited to be used as an anti-flu drug within the nation in 2014.
Nonetheless, on Wednesday, Kyodo Information reported that to date there was no clear proof of efficacy for Avigan in treating the novel coronavirus in some scientific trials.
Strides late on Wednesday posted a fourth-quarter consolidated internet lack of Rs 207 crore ($27.35 million), because it made a Rs 113 crore write-down of stock and different bills associated to withdrawal of ranitidine merchandise.
The corporate’s shares rose as a lot as 5.three per cent to a two-week excessive in early commerce, however pared some features and had been final up 1.eight per cent at 10 am.