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Fujifilm’s Shares Skyrocket By 15% After Drug Is Found ‘Effective’ From COVID-19
By Mikelle Leow, 19 Mar 2020
Image via Antonio Baccardi / Shutterstock.com
Fujifilm’s shares spiked by an astounding 15.4 percent on Tuesday, but it’s not because of camera sales. The jump occurred after Chinese health officials announced that an antiviral drug developed by Fujifilm Holdings in 2014 is “clearly effective” against the novel coronavirus.
The drug, called Avigan, was used in a clinical trial on 200 COVID-19 patients in Wuhan and Shenzhen. On average, they recovered nearly two days sooner than those who were not given the drug. Fewer participants also required respiratory aid after being administered Avigan.
According to PetaPixel, Fujifilm’s stock first rose by eight percent in February because Japanese Health Minister Katsunobu Kato affirmed the effects of the drug in treating the flu, which was what Avigan was actually developed for.
The Nikkei Asian Review later reported that on Tuesday, the company’s shares jumped again after Zhang Xinmin, director of the China National Center for Biotechnology Development, declared that the Avigan drug “has a high degree of safety and is clearly effective in treatment.”
[via PetaPixel, cover image via Antonio Baccardi / Shutterstock.com]
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