Bajaj Healthcare jumped 11.56% to Rs 586.80 after the company announced the launch antiviral Favipiravir tablets, under the brand name Favijaj, for the treatment of mild to moderate COVID-19.
In a regulatory filing made during market hours today, the company said that the tablets comprising Favipiravir in different dosage forms is used for the treatment of mild to moderate COVID-19 disease. Favipiravir is an antiviral drug, which has shown potent in vitro activity against severe acute respiratory syndrome of coronavirus.
The company has successfully developed the active pharmaceutical ingredient (API) and the formulation for Favipiravir through its own in-house R&D team. Most patients ailing from mild to moderate symptoms can benefit from the use of Favijaj. The drug will be available as a prescription-based medication, with recommended doses.
The drug controller of India's has granted permissions to supply the Favijaj (Favipiravir) in the domestic as well as in overseas market.
Anil Jain, Joint Managing director, Bajaj Healthcare, said: "We are pleased to add Favipiravir to our growing product portfolios. The second waves is more aggressive and bigger in number than the first. We hope the availability of an effective treatment such as Favijaj will considerably ease the pressure, and offer patients much needed and timely therapy option."
Bajaj Healthcare is a leading manufacturer of APIs, intermediates and formulations.
The company's net profit surged to Rs 326.1% to Rs 26.42 crore on a 79.6% to Rs 178.33 crore in Q3 FY21 over Q3 FY20.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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