Jenburkt Pharmaceuticals Ltd. second in India to launch Favipiravir - Favivent™ to fight COVID-19

India has recently crossed the 1.28 million mark of COVID-19 cases and has turned into a global hotspot of coronavirus. In an important development for COVID-19 patients in India, Jenburkt Pharmaceuticals Ltd., a public listed company headquartered in Mumbai with a legacy of over 30 years in high-quality pharmaceutical solutions, and having international presence, announced the launch of antiviral drug Favipiravir (brand name Favivent™) for the treatment of mild to moderate COVID-19 symptoms at a price of Rs. 39 per tablet.

This is not the first foray into timely, rapid innovation from the Jenburkt stable. This innovation-driven organisation was the first in the world to introduce Nervijen, Metmin-A, Powergesic, Infartin and a few more, across multiple therapeutic areas. The company's R&D unit, approved by the Ministry of Science & Technology, Government of India, is their gateway to health through innovation.

Jenburkt is the second in India to introduce Favipiravir (brand name Favivent™) for the treatment of COVID-19. Favivent™ is manufactured at a pharmaceutical plant which is compliant with US-FDA (U. S. Food and Drug Administration) and EDQM (The European Directorate for the Quality of Medicines & HealthCare) standards located in the state of Telangana, with the highest safety and manufacturing protocols in place. According to Jenburkt, the medication will be available in the form of 1 strip of 10 tablets.

Earlier this year, the Drug Controller General of India approved the use of favipiravir - an antiviral drug developed in Japan and commonly used for treating influenza - for the treatment of mild to moderate cases of COVID-19 in India. Favipiravir is a broad spectrum anti-viral agent and selectively inhibits RNA polymerase of influenza virus and prevents viral replication. Favipiravir has a proven efficacy against a wide range of influenza viruses including strains resistant to existing anti-influenza drugs.

Commenting on the significance of this development, Mr. Ashish U. Bhuta, Chairman and Managing Director of Jenburkt Pharmaceuticals Ltd. said, "Our endeavor has always been to serve our patients - through them, we serve God, humanity and our nation. Given the current scenario of grave health concerns and economic challenges surrounding COVID-19 in India, if we as a pharmaceutical company cannot make a significant positive difference to the society, our company's very existence is inconsequential. It is only Conscious Capitalism and Innovation which can sustain growth of any organisation in the long run."

Countries across the world have a generally positive outlook on Favipiravir. Favipiravir has been approved for use against COVID-19 not just in India, but also in Japan, Russia and parts of the Middle East.

Favivent™ (Favipiravir 200 mg) can benefit patients showing mild to moderate symptoms of COVID-19. It will be available as a prescription-only drug and is to be administered in the prescribed dosage under a certified practicing doctor's supervision only with the informed consent of the patient.

Mr. Bhuta added, "With the rising number of cases, our country's medical infrastructure and front-line warriors are under tremendous pressure at the moment. We hope the easy accessibility and affordable price point of an effective treatment such as Favivent™ will offer our citizens a timely, much-needed therapeutic solution."

"At Jenburkt, we think of philanthropy as a unique instrument of social innovation that leads to more resilient, healthy citizens, and our organisation has a long legacy of giving back to society. We plan to work closely with local and government organisations, along with the medical community, to ensure that the product is made available to COVID-19 patients at the earliest', shared Mr. Ashish U. Bhuta in terms of way forward with the product.

Shares of JENBURKT PHARMACEUTICALS LTD. was last trading in BSE at Rs.391.9 as compared to the previous close of Rs. 396.05. The total number of shares traded during the day was 3250 in over 158 trades.

The stock hit an intraday high of Rs. 394 and intraday low of 383. The net turnover during the day was Rs. 1265568.

Source : Equity Bulls

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