Vivimed Labs locks in at upper circuit on Favulous export order

Hyderabad-based Vivimed Labs Ltd on Wednesday after the market hours informed the bourses that the company has received export order for the manufacturing of ‘Favulous’ tablets 200 mg (Favipiravir).

The initial export order value is worth over Rs 10 crore. The company expects to receive such further repeat orders during the year. Favulous tablets 200 mg (Favipiravir) is used for the treatment of mild to moderate cases of COVID-19.

The company will work closely with various governments and medical communities to ensure easy availability of ‘Favulous’ to patients across the world.

Favipiravir is the only oral anti-viral treatment approved in India for the potential treatment of patients with mild to moderate COVID-19 disease. However, it is to be noted that Favipiravir has not been added to the Ministry of Health’s Clinical Management Protocol due to the lack of enough clinical benefit evidence.

The company’s promoter holding as of June 2020 stood at 32.8 per cent as against 34.2 per cent in June 2019. However, the company’s pledged percentage has declined to 60.1 per cent in June 2020 as against 66.4 per cent in June 2019.

On Thursday, the stock of Vivimed Labs gained five per cent and locked in at an upper circuit of Rs 12.84 on BSE.