HMM: Fujifilm shares jump 15% on China coronavirus drug trial boost.

Avigan, also known as Favipiravir, is manufactured by a subsidiary of Fujifilm, which has a healthcare arm although it is better known for its cameras. The drug was approved for use in Japan in 2014.

Favipiravir has been effective, with no obvious side-effects, in helping coronavirus patients recover, Zhang Xinmin, an official at China’s Science and Technology Ministry, told reporters at a news conference on Tuesday.

A Fujifilm spokeswoman said the company had no comment on the Chinese government’s announcement. Fujifilm manufactures Avigan only on receiving orders from the Japanese government and has no sales target for the drug, she said.

Stay tuned.