You are here: Home » News-CM » Equities » Hot Pursuit
Business Standard

FDC sizzles on launching 2 variants of Favipiravir in India

Capital Market 

FDC gained 3.83% to Rs 329.65 after the pharmaceutical company launched two variants of of Favipiravir drug - PiFLU and Favenza - which will be used to treat mild to moderate cases of COVID-19 in India.

The announcement was made after market hours yesterday, 25 August 2020.

FDC has launched two variants of of Favipiravir drug for COVID-19, i.e. PiFLU and Favenza; which will be used to treat mild to moderate cases of COVID-19 in India. With the third largest number of cases globally, at close to three million, and a daily increase rate that is on the rise, the Indian economy and populace have both seen major hits over the past two quarters, FDC said.

Earlier this year, the Drug Controller General of India (DCGI) approved the use of Favipiravir, an off patent, oral anti-viral drug that has been shown to quicken clinical recovery in COVID-19 patients with mild to moderate symptoms. It is a broad spectrum anti-viral agent, and selectively inhibits RNA polymerase of influenza and SARCOV-2 virus and prevents viral replication.

Commenting on the development, Mayank Tikkha, the spokesperson at FDC, stated the company will be working with the government and healthcare fraternity to make Favenza and Piflu available across the country.

FDC's PiFLU and Favenza is currently available across the country. FDC has also increased the production and availability of its brand of balanced electrolyte drink Enerzal and Electral as per ASPEN guidelines, 3 litres of fluid intake in a day (60 to 120 ml in every 30 minutes) helps in speedy recovery of people who are home quarantined.

FDC's consolidated net profit jumped 63.1% to Rs 91.72 crore on a 10.3% decline in net sales to Rs 308.18 crore in Q1 June 2020 over Q1 June 2019.

FDC is a fully integrated research-oriented pharmaceutical company engaged in the manufacturing and marketing of Formulations (Finished Dosage Forms) and Active Pharmaceutical Ingredients (APIs).

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, August 26 2020. 09:18 IST