Hyderabad, Sept 14 (PTI): City-based Saptagir
Laboratories on Monday said it has signed a pact with
Jubilant Generics to make intermediates and active
pharmaceutical ingredient for Remdesivir, a drug, used in
The drug would be produced at its WHO GMP-certified
sterile drug product manufacturing plant acquired at a cost
of Rs 75 crore, a press release from Saptagir Laboratories
The company is a part of the Rs 900-crore Saptagir Group.
"This partnership (with Jubilant Generics) is timely and
in line with our strategic growth plans for the company. Our
foray into bulk drug manufacturing will open new revenue
streams, backed by our extensive global customer base
spanning 50-plus countries with an array of products targeted
at the fast-growing health and wellness segment," said
promoter and managing director of Saptagir Laboratories
Fresh investments in the pharma plant gives Saptagir a
strong entry into an adjacent pharma vertical.
The strategy is to accomplish USFDA certification for the
plant and develop strong partnerships with a target to
achieve 500 KL capacity in the coming few years, the release
Weve had several successes in product development in
molecules that were previously only manufactured in China.
This partnership meets the need of our multinational
customers who approve India as a strong second source for
products beyond China,"said promoter and chairman of
Saptagir Group Mahesh Reddy said.
"With the new investment of Rs 75 crore in the pharma plant
at Hyderabad, we will further grow our presence in the health
and wellness business, he said.
Remdesivir is an experimental anti-viral intravenous
administered drug developed by Gilead Sciences, Inc. as a
course of treatment for COVID-19.
Gilead entered into a non-exclusive licensing agreement
with Jubilant Life Sciences for distribution to 127
Following this, Jubilant Life Sciences through its
subsidiary Jubilant Generics entered into an exclusive
agreement with Saptagir Laboratories to make Remdesivir, the
release added. PTI SJR
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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