Cairo – Mubasher: Sabaa International Company for Pharmaceutical and Chemical Industry has received an initial approval from the Egyptian Drug Authority (EDA) to register a drug product (Favipiravir 200 mg), a potential treatment for coronavirus (COVID-19).

Production is expected to start within three months after the completion of the registration procedures, the company said in a statement to the Egyptian Exchange (EGX) on Monday.  

The drug will be manufactured at the company’s factory in the industrial zone in Kafr El-Sheikh.

It is worth mentioning that during the first quarter of 2020, the pharmaceutical company reported net profits of EGP 3.16 million, up from about EGP 724,830 in the year-ago period.