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Strides Pharma to conduct trials in India for potential COVID-19 drug – Home Health Choices

BENGALURU: Indian pharmaceutical firm Strides Pharma Science Ltd stated on Thursday it’s got regulatory approval to conduct medical trials of antiviral drug favipiravir, thought-about a possible therapy for COVID-19.

The Bengaluru-based firm has acquired approval from the Drug Controller General of India to conduct trials of favipiravir within the nation, Strides Founder and Non-Executive Chairman Arun Kumar stated on a post-earnings convention name, with out giving any extra particulars.

Strides’ announcement comes after Glenmark Pharmaceuticals Ltd stated final month it turned the primary pharma firm within the nation to get the nod to conduct favipiravir trials. The Mumbai-based firm has initiated late-stage medical trials and expects examine outcomes by July or August.

Favipiravir is manufactured beneath the model title Avigan by a unit of Japan’s Fujifilm Holdings Corp and was accredited to be used as an anti-flu drug within the nation in 2014.

However, on Wednesday, Kyodo News reported that to date there was no clear proof of efficacy for Avigan in treating the novel coronavirus in some medical trials.

Strides late on Wednesday posted a fourth-quarter consolidated web lack of 2.07 billion rupees ($27.35 million), because it booked a 1.13 billion rupees write down of stock and different bills associated to withdrawal of ranitidine merchandise.

The firm’s shares rose as a lot as 5.three% to a two-week excessive in early commerce, however pared some beneficial properties and have been final up 1.eight% at 0430 GMT.

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