Glenmark Pharma stock rises after go ahead for Covid-19 drug trial

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Glenmark Pharma stock rises after go ahead for Covid-19 drug trial

Apr 30, 2020 16:13 IST

Shares of Glenmark Pharmaceuticals rose almost 9% on Thursday after the Indian drugmaker got an approval to conduct clinical trials with antiviral drug favipiravir, seen as a potential treatment for Covid-19. Favipiravir has been effective with no obvious side-effects in helping coronavirus patients recover, a Chinese official told Reuters last month. Glenmark said in a statement, after having successfully developed the Active Pharmaceutical Ingredient and the formulations, it is all geared to immediately begin clinical trials of favipiravir on Covid-19 patients in India.

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