May 21, 2020 / 4:21 AM / 9 days ago

Strides Pharma to conduct trials in India for potential COVID-19 drug

BENGALURU, May 21 (Reuters) - 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.

Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Devika Syamnath

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