Buy Glenmark Pharma; target of Rs 488: ICICI Securities

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26 Aug, 2025 12:21

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ICICI Securities research report on Glenmark Pharma

Glenmark Pharmaceuticals (Glenmark) announced the receipt of regulatory approval to manufacture and market oral antiviral Favipiravir in India. It has been launched by Glenmark under the brand name ‘FabiFlu’ and is indicated for the treatment of mild to moderate COVID-19. This approval has been granted by DCGI under the accelerated approval process owing to the current precarious situation in India. Glenmark earlier received approval from DCGI for conducting clinical trials in India for Favipiravir in COVID-19 patients in early May and has now received marketing approval based on successful trials. Favipiravir showed clinical improvement of 88% in patients between age group of 20-90 years.

Outlook

This success reinforces company’s R&D capabilities and would provide decent financial upside. Maintain BUY.

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