Favipiravir Sales Up 1567% in Just 2 Quarters as UAE Venture Supplies Economical COVID-19 Antiviral

The Dubai Health Authority’s (DHA) National Guidelines for Clinical Management and Treatment of COVID-19 added Favipiravir (Avigan) to the list of approved therapeutics for COVID-19 over the summer. The drug is developed by Japan-based FUJIFILM Chemical Toyama Ltd (FUJIFILM), which licensed the rights to the Favipiravir (trade name Avigan) to Global Response Aid, a Dubai, United Arab Emirates (UAE)-based 50-50 joint venture owned by logistics venture Agility (KSE/DFM: AGLTY) and AiPharma, a pharmaceutical research and development company, that controls joint marketing and distribution rights to Avigan globally outside of Japan, China, and Russia. Sales of the repurposed antiviral targeting COVID-19 have skyrocketed from $9 million in Q1 to $150 million in Q3 2021. Over the past 12 months, governments stockpiled over 80 million tablets. Demand for early-onset COVID-19 care in the UAE has driven AiPharma to ink a deal with the Middle East generic drug producer Pharmax to spearhead Avigan regulations, sales, and distribution efforts. This past week alone, GRA (AiPhrma) and Pharmax delivered 1.2 million tablets to the Emirates for Abu Dhabi-based ADQ’s affiliate RAFED—a group purchasi...

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