Glenmark defends price of its COVID-19 drug favipiravir version
Bengaluru: Glenmark Pharmaceuticals Ltd defended the pricing of its generic model of favipiravir, FabiFlu, on Tuesday, after India`s drug regulator had reportedly despatched the corporate a discover on overpricing.
Shares of the Mumbai-based firm fell as a lot as 5.8% on Monday after native media studies stated the Drug Controller General of India (DCGI) pulled up Glenmark concerning the value of the pill and different considerations.
“Compared to other therapies approved for emergency use in COVID-19, FabiFlu is much more economical and an effective treatment option,” the corporate stated in an announcement https://bit.ly/3fHZX7H to the exchanges.
Glenmark additionally denied making any claims that “favipiravir alone” is efficient in therapy of mild-to-moderate COVID-19 sufferers.
FabiFlu`s value is considerably decrease than variations of favipiravir in different nations, the corporate added. Its value of 75 rupees ($1.00) per pill compares to 600 rupees per pill in Russia, and between 200 rupees and 380 rupees per pill in China, Bangladesh and Japan.
The considerations on overpricing and allegations concerning Glenmark`s claims of effectiveness of the drug in co-morbid situations like hypertension and diabetes had been raised by a member of India`s parliament, and had been despatched to the corporate by the DCGI in a letter dated July 17.
The assertion pertaining to co-morbidity was not derived from Glenmark`s ongoing late-stage trial of favipiravir, the corporate stated, including that reference to co-morbidity was based mostly on information from Japanese medical research and that not one of the firm`s product data for FabiFlu make any such claims.
Anti-flu drug favipiravir is manufactured underneath the model identify Avigan by a unit of Japan`s Fujifilm Holdings Corp. Japanese researchers have stated a medical trial of Avigan yielded inconclusive outcomes as a therapy for COVID-19.
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