Vivimed Labs gets government nod to manufacture, market Favipiravir Tablet to treat COVID-19; surges 5%

Hyderabad-based Vivimed Labs Limited, a niche Specialty Chemicals and Pharmaceuticals company, on Monday, May 10, 2021, said that it has received approval from the Government of India to manufacture and market Favipiravir Tablet 200 mg & 400 mg.

The company in a regulatory filing said, the company has received approval to manufacture and market the Favipiravir Tablet under Vivimed's own brand name "Favulous" across India. It is used for the treatment of mild to moderate cases of COVID-19.

Favipiravir is one of the leading oral anti-viral treatment approved in various countries for the potential treatment of patients with mild to moderate Covid-19 disease. Favipiravir registered the highest sales in April 2021.

Commenting on the launch, Ramesh Krishnamurthy, CEO of Vivimed Labs Ltd said, "With a huge spike in COVID-19 cases being reported daily in India, there is an urgent need to provide more treatment options to healthcare professionals. We are launching "Favulous" at a competitive price to make the drug accessible to more and more patients thereby ensuring good health and reducing their financial burden. This is in line with Vivimed's commitment to be at the forefront in India's fight against COVID-19."

The company will work closely with the various governments and medical community to ensure the availability of "Favulous" to patients across the Country.

Vivimed was trading 1.35 points or 5 per cent higher at 28.35 on NSE at 11:47 am after the company received approval from the government to manufacture and market Favipiravir Tablet.