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Vivimed Labs shares hit upper circuit on govt nod to manufacture, market Favipiravir tablet to treat COVID-19

Vivimed Labs received Government of India approval to manufacture and market Favipiravir Tablet 200 mg & 400 mg under brand name “Favulous” across India. It is used for the treatment of mild to moderate cases of Covid-19, the company said.

May 10, 2021 / 11:30 AM IST
Source: News18

Source: News18

 
 
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Vivimed Labs share price spiked 5 percent intraday on May 10 after the company received approval from the government to manufacture and market Favipiravir Tablet.

Vivimed Labs announced that the company received Government of India approval to manufacture and market Favipiravir Tablet 200 mg & 400 mg under Vivimed’s own brand name “Favulous” across India. It is used for the treatment of mild to moderate cases of Covid-19, the company said in an exchange filing.

The stock was trading at Rs 28.45, up Rs 1.35, or 4.98 percent at 11:13 hours. It has touched an intraday high of Rs 28.45 and an intraday low of Rs 25.75.

There were pending buy orders of 629,573 shares, with no sellers available.

The stock price gained traction as the Indian sub-continent registered 3.66 lakh fresh cases in the last 24 hours.

Vivimed has been one of the many pharma companies that have launched Favipiravir tablets for the treatment of mild to moderate cases of COVID-19 cases.

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Favipiravir, a broad-spectrum antiviral, was originally developed by Toyama Chemical Co, a subsidiary of Japanese drugmaker Fujifilm. The drug was approved in Japan in 2014. Following the COVID-19 outbreak, doctors in China and Russia have started using it to treat COVID-19 patients.
Moneycontrol News
first published: May 10, 2021 11:30 am

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