Hikal freezes at 5% upper circuit on development of Favipiravir API

Favipiravir is in various stages of clinical trials in many countries as an experimental treatment of Covid-19.

Shares of Hikal were locked in the upper circuit band of 5 per cent at Rs 115 on the BSE on Friday after the company announced the successful development of Favipiravir active pharmaceutical ingredient (API) and its intermediates. The drug is in various stages of clinical trials in many countries as an experimental treatment of Covid-19.

The trading volumes on the counter more than doubled with a combined around 280,000 shares changing hands on the counter on the NSE and BSE. There were combined pending buy orders for 120,000 shares at 12:17 pm.

Favipiravir is a generic version