Pharmaceutical firm Strides on Wednesday announced the development of Favipiravir antiviral tablets, which have been touted to be effective against coronavirus. Favipiravir is a generic version of Avigan, which is produced by Japanese manufacturer Toyama Chemical.

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In a statement the company said that the antiviral drug was initially developed to treat flu in Japan, but studies in other countries have shown its effectiveness against coronavirus.

“Favipiravir is an antiviral medication that was initially developed to treat influenza in Japan,” the Strides statement said.

It added: “In February 2020, post the outbreak of Novel Coronavirus (Covid-19), Favipiravir was studied in China and several other countries as an experimental treatment of Covid-19.The drug has demonstrated positive outcomes, including a reduction in the duration of Covid-19 and improved lung conditions for the patients.”

The drug is available in 200 mg and 400 mg variants and is being manufactured at the company's Bengaluru facility.

Strides said that the drug is being exported to the Gulf Cooperation Council countries to "treat patients under their treatment program for Covid-19."

The statement added that the company will apply to Indian authorities to commence necessary studies and make the drug available to Indian patients.

Another Indian drug manufacturer, Glenmark, was in focus a few days ago on the back of sources telling CNBC-TV18 that the company is looking to manufacture the same antiviral drug.

Glenmark has developed the Active Pharmaceutical Ingredient (API) for the drug, say sources. Experts contend that developing the drug’s API is a difficult task. Glenmark is focusing on the Indian market for its drug and has applied to the Indian regulators to begin its clinical trials.

The trials are expected to last two to four weeks and if successful the drug can be launched in India. Since the drug is off patent, other drugs will likely enter the market which could dilute a potential opportunity, say experts.

Several drugs have been touted as effective against the novel coronavirus, but those claims have proven to be tenuous. Hydroxycholoroquine, an anti-malarial drug, was initially claimed to be effective in treating COVID-19 patients, but its administration has not yielded desired results.

In the United States, veterans administered standard care showed 11 percent fatality rate but it shot up to 28 percent when patients were given hydroxychloroquine. Its administration in Brazil was also halted after undesirable results. HCQ has proven to be especially problematic for people with heart ailments.

No vaccine has been developed for COVID-19 yet.

Also read: Strides stock surges 11% after company claims development of COVID-19 drug Favipiravir

First Published:Apr 29, 2020 9:51 AM IST