The drug major during market hours today (19 August 2020) announced the launch of AVIGAN (Favipiravir) 200 mg tablets in India.
The drug has been approved by the Drugs Controller General of India (DCGI) for the treatment of patients with mild to moderate COVID-19 disease.
The launch is part of the global licensing agreement with FUJIFILM Toyama Chemical Co. that grants Dr. Reddy's the exclusive rights to manufacture, sell and distribute AVIGAN (Favipiravir) 200 mg Tablets in India, the company said in the BSE filing. The drug comes in a complete therapy pack of 122 tablets with a two-year shelf life.
M V Ramana, Chief Executive Officer, branded markets (India and Emerging Markets), Dr. Reddy's Laboratories, said, "We are pleased to bring this important innovator medicine to the patients in India. The need for high quality and efficacy, affordability and better disease management are key priorities for us. We believe that AVIGAN would provide an effective treatment option to the COVID-19 impacted patients in India."
Dr. Reddy's Laboratories is an integrated pharmaceutical company. The drug major's consolidated net profit declined 12.59% to Rs 579.30 crore on 14.93% jump in revenue from operations to Rs 4,417.50 crore in Q1 June 2020 over Q1 June 2019. Current tax expenses for the quarter jumped 60.04% at Rs 299.60 crore as against Rs 187.20 crore in Q1 June 2019.
The scrip rose 0.05% to Rs 4506.30 on the BSE. It traded in the range of 4494.40 & 4559 so far during the day.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)