Bal Pharma hit an upper circuit of 5% at Rs 98.40 after the company announced the launch of favipiravir formulation into Indian market, under the brand name BALflu.
Favipiravir is an emerging anti-viral drug used for patients with mild to moderate COVID-19 infection. This formulation is available in tablets form with 400 mg strength. Favipiravir inhibits and terminates viral protein synthesis and induces lethal metagenesis of influenza virus.
BALflu (favipiravir) is a broad-spectrum formulation also used in the treatment of 53 types of Influenza virus including seasonal strains such as Ebola virus, arenavirus, bunyavirus, filovirus, west nile virus, food & mouth disease virus and lassa virus.
The drug has been approved by Drug Controller General of India (DCGI) for emergency use for the treatment of COVID-19 with a recommended dosage of 1800 mg on the first day followed by 800 mg from day 2 to 14. It has been made available across all the major markets in India as a prescription drug.
Shailesh Siroya, managing director of the company, speaking at the launch of the product has said that the BALflu has the efficacy to clear the virus faster by 28.7% and is marketed at a very affordable price of Rs 85 per tablet, so as to enable the needy patients to access this drug on time.
Bal Pharma is a pharmaceutical company, specialized in prescription drugs, generic & OTC products, intravenous infusion and bulk actives.
The company reported a consolidated net profit of Rs 0.32 crore in Q3 FY21 compared with net loss of Rs 3.57 crore in Q3 FY20. Net sales rose 46% YoY to Rs 63.03 crore during the quarter.
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