Drug maker Jubilant Lifesciences share are locked in 5% daily upper limit at Rs 428.55 on NSE after announcing its tie-up with Gilead Sciences to make Remdesvir – a therapy used to treat COVID-19 infected patients.
Jubilant Lifesciences announced that its unit Jubilant Generics has entered into a non-exclusive agreement with Gilead Sciences to manufacture and sell remdesivir in 127 countries, including India.
Under the licencing agreement, the company have the right to receive technology transfer of the Gilead manufacturing process to scale up production to enable expedited access of the drug to COVID-19 patients upon approval by regulatory authorities in respective countries.
Gileads remdevisir therapy has a potential to treat coronavirus, a pandemic creating unprecedented health and economic crisis globally.
Gilead held talks with several chemical and drug makers, including in India, to produce its experimental COVID-19 drug remdesivir for Europe, Asia and the developing world through at least 2022.Interest in remdesivir has been high globally because there are no approved treatments or vaccines for COVID-19, the respiratory illness caused by the new coronavirus and several countries are reeling from the virus outbreak.
Meanwhile, Remdesivir remains an investigational drug and is yet to be approved by US FDA.
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