FujiFilm Influenza Drug Shows Efficacy in Treating Coronavirus, Chinese Researchers Say

Shares of FUJIFILM spiked more than 26% Wednesday after reports its flu drug favipiravir proved effective in treating coronavirus cases in China.

FujiFilm’s favipiravir has only been approved in Japan for the treatment of new strains of influenza. The drug has been involved in clinical trials in China for the treatment of coronavirus and the results have been promising. Zhang Xinmin, an official at China’s science and technology ministry, told reporters that the drug “has a high degree of safety and is clearly effective in treatment,” according to The Guardian. Zhang said the medicine worked for coronavirus-related symptoms including pneumonia and had no obvious side effects.