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Mumbai: Pharma company Bajaj Healthcare Ltd on Tuesday said it is launching antiviral drug favipiravir for the treatment of 'mild to moderate covid-19 patients' after receiving manufacturing and marketing approval from India's drug regulator. The drug will be launched under Favijaj brand.

The launch comes at a time when the country is facing severe shortage of healthcare facilities and medicines used for treatment of covid patients, amid a second wave of the pandemic.

Bajaj Healthcare shares shot up in trade after the announcement, closing at 583.05 on the BSE, up 10.85% from previous close.

Favipiravir is an antiviral drug, which has shown potent in vitro activity against severe acute respiratory syndrome of coronavirus, the company said in a release.

“We are pleased to add Favipiravir to our growing product portfolios. The second wave 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," said Anil Jain, Joint Managing Director at Bajaj Healthcare.

The company said it has developed the active pharmaceutical ingredient (API) and the formulation for favipiravir through its own in-house R&D team.

“The drug controller of India’s has granted permissions to supply the “Favijaj" (Favipiravir) in the domestic as well as in overseas market," it said.

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