On Monday, Glenmark Pharmaceuticals announced that it has cut prices of its antiviral drug Favipiravir (under the brand name FabiFlu) by 27% to Rs 75 per tablet. The antiviral drug was launched last month at the price of Rs 103 per tablet.
Glenmark made the announcement in a regulatory filing saying that the new Maximum Retail Price of Favipiravir would be Rs 75 per tablet.
The filing said, “The price reduction has been made possible through benefits gained from higher yields and better scale, as both the active pharmaceutical ingredient (API) and formulations are made at Glenmark’s facilities in India, the benefits of which are being passed on to patients in the country.”
Alok Malik, Glenmark Pharmaceuticals Senior Vice President and Head India Business said, “Our internal research shows us that we launched FabiFlu in India at the lowest market cost as compared to the cost of Favipiravir in other countries where it is approved. And now we hope that this further price reduction will make it even more accessible for patients across the country.”
A Post Marketing Surveillance (PMS) study on FabiFlu has been commenced to closely monitor the safety and efficacy in 1,000 patients that are prescribed with the oral medication, added the filing.
“We expect this PMS study to shed more light on the drug’s clinical effectiveness and safety in a large cohort of patients prescribed FabiFlu,” added Malik.