Chromis, a joint venture established by the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, and ChemRar Group, announce the signing of a distribution agreement with South Africa’s 3Sixty Biopharmaceuticals, a subsidiary of 3Sixty Global Solutions Group, to deliver Avifavir, the first Russian anti-COVID drug, to South Africa.
The country has recently seen a rapid increase in the number of patients with coronavirus infection and in terms of infections, South Africa currently ranks 5th globally.
Avifavir (Favipiravir) is the first Russian drug approved to treat coronavirus infection. It is also the first Favipiravir-based drug in the world approved for the treatment of COVID-19. The Ministry of Health has included Avifavir in the seventh edition of its guidelines for the prevention, diagnosis and treatment of new coronavirus infection COVID-19. Avifavir has already been delivered to 50 Russian regions as well as Belarus and Kazakhstan.
Favipiravir-based drugs have demonstrated efficacy in three independent clinical trials held in the leading medical centers across Russia, involving 700 patients with confirmed cases of COVID-19. The drugs disrupt the reproduction mechanisms of the coronavirus, relieving symptoms and halving the treatment period compared to standard therapy.
3Sixty Biopharmaceuticals had earlier signed an agreement to import Remdesivir to South Africa, which is injected intravenously in hospitals. However, because South Africa has a shortage of hospitals it needs other effective ways to treat patients with COVID-19. Avifavir is effective in the early and middle stages of infection. Treatment of outpatients with Avifavir can help decrease the number of hospital admissions and reduce the burden on the healthcare system.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund, said:
“South Africa is the second BRICS state after Brazil to which RDIF and ChemRar have agreed to supply Avifavir. Thanks to the agreement with 3Sixty Biopharmaceuticals, doctors in South Africa will obtain an effective tool to treat patients at an early stage, preventing the progression of the disease and risk to the lives of patients.”