Dr. Reddy's Laboratories enters into a Licensing Agreement with Gilead Sciences for Remdesivir

Dr. Reddy's Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, along with its subsidiaries together referred to as "Dr. Reddy's") today announced that it has entered into a non-exclusive Licensing Agreement with Gilead Sciences, Inc. (Gilead) that will grant Dr. Reddy's the right to register, manufacture and sell Gilead's investigational drug, Remdesivir, a potential treatment for Covid-19, in 127 countries including India.

Dr. Reddy's will receive technology transfer from Gilead for manufacturing of this drug. Dr. Reddy's would need to do the manufacturing scale up and obtain regulatory approval for marketing of this drug in respective countries.

Remdesivir, an investigational antiviral therapy developed by Gilead, received Emergency Use Authorization (EUA) by the U.S. Food and Drug Administration (USFDA) to treat Covid-19.

Shares of DR.REDDY's LABORATORIES LTD. was last trading in BSE at Rs.4008.95 as compared to the previous close of Rs. 4055.6. The total number of shares traded during the day was 18276 in over 3000 trades.

The stock hit an intraday high of Rs. 4035 and intraday low of 3982.05. The net turnover during the day was Rs. 73226490.

Source : Equity Bulls

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