Exuberance most likely to fizzle out in the near-term. GNP rallied 27% on Favipiravir's (Fabiflu) approval by DGCI (Drug Controller General of India) for treating COVID-19 patients. We believe this reaction has an irrational exuberance and will likely fizzle out in the near-term as 1) Cipla, Strides and Natco/Laurus approval will follow soon leading to a cut-throat...