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Dr. Reddy's (RDY) Ends Kuwait Study on Avigan for COVID-19

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Shares of Dr. Reddy’s Laboratories Ltd. RDY fell 4.13% after it announced the termination of the Avigan study conducted in Kuwait, focused on moderate-to-severe COVID patients in a hospital setting. The study is being conducted in partnership with Global Response Aid FZCO (GRA). However, shares of Dr. Reddy’s have soared 48.2% in the past yearcompared with the industry’s growth of 11.9%.

The data from the Kuwait CVD-04-CD-001 study involving moderate-severe COVID-19 hospitalized patients did not show a statistically significant difference for the primary endpoint (i.e. time to sustained hypoxia resolution) for Aviganversus Placebo. The subgroup analysis of the low-risk study cohort (n=181) showed a 3-day earlier discharge in the Avigan group compared to the placebo group. The subgroup analysis data during the initial interim analysis showed that an antiviral drug,Avigan, may be effective as part of early treatment initiation in COVID-19 patients and not effective in the late-stage hospital treatment for moderate and severe COVID-19 patients. The full data analysis on 353 subjects would be available by the end of February 2021.

We note that the Avigan tablet was developed by FUJIFILM Toyama Chemical and is marketed as an influenza antiviral drug.

In July 2020, Dr. Reddy’s partnered with a Japanese pharma giant, FUJIFILM Toyama Chemical (FUJIFILM), and Global Response Aid for the development, manufacture and sale of antiviral Avigan (favipiravir) tablets for the potential treatment of COVID-19. The companies shall continue the phase III pivotal study — PRESECO —being conducted in North America in an out-patient setting. The PRESECO study aims to determine the efficacy of Avigan as an early treatment for COVID-19 patients with mildto moderate symptoms. The goal of the study is to alleviate symptoms and prevent disease progression before the infection requires hospitalizations or other intensive interventions.

Several other companies have also come up with treatments for this virus. In November 2020, the FDA granted an emergency use authorization to two monoclonal antibody treatments — Eli Lilly’s LLY bamlanivimab and a combination of casirivimab and imdevimabdeveloped by Regeneron REGN. Both treatments have been approved for non-hospitalized adults and children above the age of 12 with mild to moderate COVID-19 symptoms who are at risk for developing severe COVID-19 or being hospitalized for the same.

In January 2021, Moderna, Inc.’s MRNA mRNA-based coronavirus vaccine candidate, mRNA-1273, was granted a conditional marketing authorization (CMA) by the European Commission. The vaccine can be administered for active immunization to prevent COVID-19 in individuals aged 18 years or older. It also received authorization in the United States and a few other countries.

Dr. Reddy’scurrently carries a Zacks Rank #2 (Buy).You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Dr. Reddys Laboratories Ltd Price

Dr. Reddys Laboratories Ltd Price
Dr. Reddys Laboratories Ltd Price

Dr. Reddys Laboratories Ltd price | Dr. Reddys Laboratories Ltd Quote

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