Shares of Strides Pharma Science Ltd on Wednesday zoomed 20 per cent after the company said it has developed and commercialised Favipiravir antiviral tablets, and stressed that the drug has demonstrated positive outcomes in COVID-19 treatment globally.
The scrip advanced 20 per cent to close at Rs 449.10, its upper circuit, on the BSE.
At the NSE, it climbed 20 per cent to close at Rs 449.60.
"Favipiravir is an antiviral medication that was initially developed to treat influenza in Japan. In February 2020, post the outbreak of Novel Coronavirus (COVID-19), Favipiravir was studied in China and several other countries as an experimental treatment of COVID-19," the company said in a filing to the BSE.
"The drug has demonstrated positive outcomes, including a reduction in the duration of COVID-19 and improved lung conditions for the patients," it added.
It said Strides is the first Indian company to have commenced export of Favipiravir tablets.
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