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HomeGlobal BusinessJapan’s Fujifilm shares up 15% on Coronavirus drug trial

Japan’s Fujifilm shares up 15% on Coronavirus drug trial

March 18, 2020 (MLN): Shares in Japan’s Fujifilm Holdings Corp (4901 TYO), a healthcare arm but known for its cameras, rose by 15.43% on Wednesday [3:00 pm] when a Chinese official said the company's Avigan anti-flu medication helps recover Coronavirus patients.

According to the Reuters, the drug, Avigan also known as Favipiravir, is manufactured by a subsidiary of Fujifilm and was used in Japan in 2014.

It is prudent to mention that the Japanese government had supplied Favipiravir as an emergency aid to counter the Ebola virus outbreak in Guinea in 2016.

The Favipiravir (Avigan) has been effective in helping the recovery of the coronavirus patients without obvious side effects, Zhang Xinmin, an official at China's Science and Technology Ministry, told Reuters.

In a clinical trial involving 80 participants in Shenzhen, the patients who took Favipiravir showed greater signs of chest improvement and took less time to test negative for genomic traces of the virus, against those patients who were not given drugs, Zhang said.

According to the report covered by Reuters, the drug was first developed by Fujifilm Toyama Chemical Co Ltd, has been approved for manufacturing in China by Zhejiang Hisun Pharmaceutical Co Ltd for use against new or recurring influenza in adults, the Chinese drugmaker said in a filing last month.

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Posted on: 2020-03-18T14:29:00+05:00

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