Indian pharmaceutical company Strides Pharma Science Ltd said on Thursday it has obtained regulatory approval to conduct clinical trials of antiviral drug favipiravir, a potential treatment for COVID-19.
The company has received approval from the Drug Controller General of India to conduct trials of favipiravir in the country, Strides Founder and Non-Executive Chairman Arun Kumar said on a post-earnings conference call.
Shares of the company rose as much as 5.3% to a two-week high in early trade, and were last up 3.5% at 0408 GMT.
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