Lee Pharma to launch favipiravir under brand name Faravir

Lee Pharma has received DCGI’s approval for manufacturing and marketing of active pharmaceutical ingredients (API) for favipiravir in India.

The company also plans to manufacture and market favipiravir medicine, for COVID-19 treatment. Raghu Mitra Alla, Director, Lee Pharma informed that the company is in the process of applying to CDSCO for manufacturing and marketing approvals.

The company plans to launch the drug under the brand name of Faravir and it will be available in the strength of 200 mg tablets. The company also informs that the drug is likely to be priced at Rs 27 for each tablet.

“Yesterday, we have received the DCGI approval for manufacturing and marketing of favipiravir API in India. However, we are already exporting it to Egypt and Bangladesh. Besides this, we are also going to file an application to the competent authority seeking approval for manufacturing and marketing of the finished formulation from our formulation facility located in Vishakhapatnam, special economic zone. The facility has the capacity to manufacture six million tablets per month, however, we have the capacity as well as capabilities to scale up the production to meet the growing demand. We are aiming to launch the product early next month, and will be ensuring it is accessible across the country,” said Alla to Express Pharma.

Commenting on the price, he commented, “We are able to supply it at an affordable price of Rs 27 due to the development of all key starting materials (KSMs) required in R&D for manufacturing the APIs to formulations from our end, which is ultimately going to benefit the patient at large.”

Lee Pharma is implementing a 100-crore greenfield project in Atchutapuram Industrial Zone in Visakhapatnam. Reportedly, the project is nearing completion and is likely to start production from September 2020.

Divulging more details to Express Pharma, Alla informed that Cipla is in the process of negotiating favipiravir APIs price for a long term supply. He also mentioned that for institutional bulk orders, the company might offer a price lower than Rs 27 per tablet.