"The launch is part of the global licensing agreement with Fujifilm Toyama Chemical Co Ltd that grants Dr Reddy's the exclusive rights to manufacture, sell and distribute Avigan (Favipiravir) 200 mg tablets in India," the drug major said in a regulatory filing.

Dr Reddy''s said Avigan has been approved by the Drugs Controller General of India (DCGI) for the treatment of patients with mild to moderate COVID-19.

"The need for high quality and efficacy, affordability and better disease management are key priorities for us. We believe that Avigan would provide an effective treatment option to the COVID-19 impacted patients in India,” M V Ramana, CEO, Branded Markets (India and Emerging Markets), Dr Reddy's Laboratories, said.

Shares of Dr Reddy's Laboratories were trading 0.10 per cent higher at Rs 4508.90 apiece on the BSE.