Favipiravir Adds Near-Equivalent Of AZ India To Glenmark's Sales
Antiviral favipiravir brings stunning gains to Glenmark, almost equal to the entire India sales of some multinationals, as demand surged amid the ferocious second of COVID-19 in the country. Such brand build-up could have taken five to seven years in pre-pandemic times, experts said.
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Most Indian pharma stocks, including large firms, yielded double digit negative returns over the last 12 months while the overall market (Bombay Stock Exchange Sensex) delivered positive returns, a new study by an investment banking and consulting services firm indicates. The prognosis for fiscal years 2023/24, though, is optimistic.
Early COVID-19 therapies including Gilead’s remdesivir, China-plus procurement policies, vaccine partnerships and a dovish stance by the central bank led to returns on India biotech and healthcare funds outperforming global returns. Meanwhile, funding for e-pharmacies and online consulting firms gathered pace.
Fujifilm Toyama’s favipiravir may be relatively late on the Indian market,but local partner Dr Reddy’s believes that the large amount of safety data and superior shelf life of the product will hold it in good stead amid heightened competition. Local manufacturing could also help Dr Reddy’s pare the price differential with other versions.