IBEF: September 15, 2020
Saptagir has formed a partnership with Jubliant Generics to manufacture 'Remdesivir at its Hyderabad WHO-GMP certified sterile drug product manufacturing plant, which acquired at an investment of â‚¹75 crore.
API and intermediates innovator Saptagir a part of the Rs 900 crore Saptagir Group while Jubliant Generics is a Jubilant Life Sciences company.
Fresh investments in a pharmaceutical plant certified by WHO-GMP offer Saptagir a good entry into a vertical pharmaceutical adjacent.
Saptagir Laboratories, based in Hyderabad, announced on Monday that it has signed an exclusive agreement with Jubilant Generics to develop intermediates and Active Pharmaceutical Ingredient for intravenous drug 'Remdesivir' used in Covid-19 therapy.
The drug will be manufactured at its sterile pharmaceutical manufacturing facility, approved by Hyderabad WHO-GMP, acquired at an investment of Rs 75 crore.
API and intermediates Saptagir are a part of the Rs 900 Crore Saptagir Group, while Jubliant Generics is a Jubilant Life Sciences.
Miss Shilpa Reddy, Promoter and Managing Director, Saptagir Laboratories said that they are honoured to partner with Jubilant Generics and make available this life saving therapy to patients across countries to save millions of lives affected by the pandemic. She also added that this partnership is timely and in line with their strategic growth plans for the company.
Remdesivir is an antiviral experimental drug developed by Gilead Sciences, Inc., as a treatment course for Covid-19. Gilead signed a non-exclusive licence deal for sale to 127 countries with Jubilant Life Sciences. After this, Jubilant Life Sciences has entered into an exclusive agreement with Saptagir Laboratories to produce Remdesivir through its subsidiary Jubilant Generics.
According to Gilead Life Sciences, the demand for Remdesivir is forecasted to be $2.3 trillion for this year and the fiscal year based upon their understanding of the situation.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.