Saptagir Laboratories – part of the Saptagir Group, has announced an exclusive agreement with Jubilant Generics- a Jubilant Life Sciences company, to manufacture intermediates and active pharma ingredient for intravenous administered drug, remdesivir.
The drug will be produced at its Hyderabad WHO GMP certified sterile drug product manufacturing plant acquired at an investment of Rs 75 crores.
Shilpa Reddy, Promoter and MD, Saptagir Laboratories stated, “We are honoured to partner with Jubilant Generics and make available this life-saving therapy to patients across countries and is a significant step towards saving millions of lives affected by the pandemic. Our foray into bulk drug manufacturing will open new revenue streams, backed by our extensive global customer base spanning 50+ countries with an array of products targeted at the fast-growing health and wellness segment.”
Mahesh Reddy, Promoter & Chairman, Saptagir Group said, “We’ve 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. With the new investment of Rs 75 crores in the pharma plant at Hyderabad, we will further grow our presence in the health and wellness business.”
Remdesivir is an experimental antiviral drug developed by Gilead Sciences 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 has entered an exclusive agreement with Saptagir Laboratories to manufacture remdesivir.
The market for remdesivir according to Gilead Life Sciences, the holder of the patent is estimated to be $2.3 billion for this year, and the fiscal year based upon their understanding of the situation.