Latest News | Glenmark Pharma Shares Soar 27 Pc After COVID-19 Drug Launch
Get latest articles and stories on Latest News at LatestLY. Shares of Glenmark Pharmaceuticals on Monday rallied 27 per cent after the company said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19.
New Delhi, Jun 22 (PTI) Shares of Glenmark Pharmaceuticals on Monday rallied 27 per cent after the company said it has launched antiviral drug Favipiravir, under the brand name FabiFlu, for the treatment of patients with mild to moderate COVID-19.
The scrip jumped 27.06 per cent to close at Rs 519.80 on the BSE. During the day, it zoomed 39.99 per cent to Rs 572.70 -- its 52-week high.
On the NSE, it gained 26.96 per cent to close at Rs 519.75.
In terms of volume, 46.33 lakh shares were traded at the BSE and 8.92 crore on the NSE.
Its market valuation rose by Rs 3,124.1 crore to Rs 14,667.10 crore on the BSE.
The drug firm on Saturday said it has launched antiviral drug FabiFlu for the treatment of patients with mild to moderate COVID-19 at a price of about Rs 103 per tablet.
The drug will be available as a 200 mg tablet at a maximum retail price of Rs 3,500 for a strip of 34 tablets, Glenmark Pharmaceuticals said.
FabiFlu is the first oral favipiravir-approved medication in India for the treatment of COVID-19, it said in a statement.
The Mumbai-based firm had on Friday received the manufacturing and marketing approval from the Drugs Controller General of India.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)