The News Scroll 14 September 2020  Last Updated at 4:23 pm | Source: PTI

Saptagir Laboratories, Jubilant sign pact to make virus drug

Saptagir Laboratories, Jubilant sign pact to make virus drug
outlookindia.com
1970-01-01T05:30:00+0530
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 COVID-19 treatment. 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 said. 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 Shilpa Reddy. 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 said. 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 countries. 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 NVG NVG

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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