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Russia’s fund to invest in production of two more Favipiravir-based drugs

MOSCOW, RUSSIA - JUNE 2, 2020: A nurse in a ward at the RZD Medicine chain's Semashko Hospital for COVID-19 patients in Stavropolskaya Street. Stanislav Krasilnikov/TASS. Sketched by the Pan Pacific Agency.

MOSCOW, Jun 25, 2020, TASS. The Russian Direct Investment Fund (RDIF) is considering the possibility of investing in several more Favipiravir-based drugs, Chief Executive Officer Kirill Dmitriev said on Thursday, TASS reported.

“Two more companies are finalizing clinical trials of Favipiravir-based drugs in Russia — our portfolio company R-Pharm and Promomed company, which will virtually produce Favipiravir-based drugs. We support those companies and plan to invest in production of those drugs,” he said.

Clinical trials of Favipiravir are currently underway across the world, particularly India’s Glenmark has received registration already, whereas Turkey is undergoing registration now, the CEO added.

Avifavir is the first Favipiravir-based drug in the world approved for treatment of COVID-19. It has shown high efficacy in clinical trials, disrupting the reproduction mechanisms of coronavirus. Its deliveries to Russian hospitals started on June 11, test batches have also been supplied to Belarus, and deliveries to Brazil, Mexico and Chile are planned.

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