Shares in Fujifilm rocketed by 15% this week after reports that an influenza medicine it makes also works against Covid-19. The Japanese group is also making a major investment in UK biotech.
Fujifilm: drug originally created for influenza could be beneficial against Covid-19
Nikkei Asian Review reported that the Director of Chinese Science Ministry had said that the influenza drug Avigan, developed by Fujifilm healthcare subsidiary Toyama Chemical Co, was “clearly effective” in the treatment of Covid-19. According to the report, clinical trials are underway in China and coronavirus patients in Japan have been given the drug since February.
Though 13 March saw Fujifilm shares slipped to ¥4,299 (£33.60) but then rose to ¥4,546 by Tuesday 17th of March and jumped to ¥5,238 on Wednesday 18th of March, reaching the daily permissible high as a result.
