Jubilant Life Sciences Limited announces approval of 'JUBI-R' (remdesivir) in India for the treatment of COVID-19

Jubilant Life Sciences Limited, an integrated global pharmaceutical and life sciences company, is pleased to announce that its subsidiary, Jubilant Generics Limited ("Jubilant"), has received approval from the Drug Controller General of India (DCGI) to manufacture and market the investigational antiviral drug remdesivir for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19.

Jubilant's remdesivir product will be marketed under the brand name 'JUBI-R' in India and will be made available in 100 mg vials (injectable). It would be administered intravenously in a hospital setting under the supervision of a medical practitioner. The Company will distribute the drug in the Indian market through its distribution network and will be available by the first week of August 2020.

In May 2020, Jubilant entered into a non-exclusive Licensing Agreement with Gilead Sciences, Inc. (NASDAQ: GILD) that granted it the right to register, manufacture and sell Gilead's investigational drug remdesivir in 127 countries including India. Remdesivir is the only antiviral drug that has received Emergency Use Authorization (EUA) by the USFDA for treatment of suspected or laboratory confirmed COVID-19 in adults and children hospitalized with severe disease.

"We are very pleased to launch 'JUBI-R', a drug with potential to save lives of people who have contracted COVID-19," stated Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, CoChairman & Managing Director, Jubilant Life Sciences Limited. "At Jubilant, we are focused on quickly making this drug available in India in required quantities and at affordable prices. This milestone underscores our continued commitment to provide leading healthcare solutions as well as demonstrates our ability to leverage our broad capabilities to deliver important new medicines."

Shares of JUBILANT LIFE SCIENCES LIMITED was last trading in BSE at Rs.721.5 as compared to the previous close of Rs. 678.85. The total number of shares traded during the day was 89141 in over 5660 trades.

The stock hit an intraday high of Rs. 744.8 and intraday low of 666.4. The net turnover during the day was Rs. 63652611.

Source : Equity Bulls

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