Glenmark defends pricing of Covid-19 drug FabiFlu, says it is economical

Glenmark also denies making any claims that "favipiravir alone" is effective in treatment of mild-to-moderate Covid-19 patients

Glenmark Pharmaceuticals Ltd defended the pricing of its generic version of favipiravir, FabiFlu, on Tuesday, after India's drug regulator had reportedly sent the company a notice on overpricing.

Shares of the Mumbai-based company fell as much as 5.8 per cent on Monday after local media reports said the Drug Controller General of India (DCGI) pulled up Glenmark regarding the price of the tablet and other concerns.

READ GLENMARK'S RESPONSE HERE

"Compared to other therapies approved for emergency use in Covid-19, FabiFlu is much more economical and an effective treatment option," the company said in a statement to the exchanges.

Glenmark