Indoco Remedies in demand after launching COVID treatment drug

Indoco Remedies jumped 4.44% to Rs 272.70 after the drug maker on 26 September 2020 announced the launch of Fevindo (Favipiravir) 400 mg tablets in India.

Fevindo-400 (Favipiravir) is an antiviral drug, effective against the RNA‐based influenza virus. The drug has been approved by DCGI in the treatment of Covid-19. The drug reduces pill burden by 50% and ensures convenient dosing and better patient compliance, the company said in a statement.

Fevindo-400 will be made available at all government approved COVID care centres and selected medical practitioners across the country. Indoco has set up dedicated helplines to ensure accelerated access to Fevindo 400.

In addition to Fevindo, Indoco has two more new products for launch in Covid Care range, i.e., Povidone Iodine Gargle and Immunity booster chewable tablets with Zinc, Vitamin C and Vitamin D.

Total COVID-19 confirmed cases worldwide stood at 32,994,213 with 996,682 deaths. India reported 9,62,640 active cases of COVID-19 infection and 95,542 deaths while 50,16,520 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Indoco Remedies is a fully integrated, research-oriented pharma company with presence in 55 countries. The company's consolidated net profit jumped 821.10% to Rs 17.04 crore on a 7.9% increase in net sales to Rs 266.80 crore in Q1 June 2020 over Q1 June 2019.

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