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Fujifilm shares down 5% on negative Avigan report

Potential coronavirus treatment needs more data and further clinical trials

Shares in Fujifilm Holdings fell nearly 5% on Wednesday morning, following reports that the medicine does not show efficacy in fighting COVID-19. (photo by Takaki Kashiwabara)

TOKYO -- Shares in Fujifilm Holdings fell nearly 5% Wednesday morning, following reports that clinical trials have shown no clear evidence of its flu drug Avigan being effective in treating coronavirus patients.

Developed by a Fujifilm subsidiary, Avigan has been a candidate for treating patients with mild symptoms of COVID-19. Japan's national broadcaster on Tuesday reported that clinical trials in Japan have not indicated enough evidence about the drug's effectiveness and that further clinical trials are necessary to collect more data.

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