Novartis CEO, Fas Narasimhan, confirmed Sunday that the treatment for malaria and other diseases presents "the greatest hope" for tackling Covid-19.

He pointed out that the drug known as "hydroxychloroquine", which is used to treat malaria, lupus and arthritis, is the "greatest hope" for the company in the face of the new coronavirus.

“Novartis" pledged to provide 130 million doses and support for clinical trials before approving the use of the drug for the treatment of coronavirus, according to Reuters.

Narasimhan said that the company is currently looking for additional active pharmaceutical ingredients to produce more hydroxychloroquine, if the clinical trials are successful.