Zydus launches Remdac™ (Remdesivir) for the treatment of COVID 19 in India

Zydus, a leading discovery-based, global pharmaceutical company today announced that it has launched Remdesivir under the brand name Remdac™ in the Indian market. Priced at Rs. 2800 for a 100 mg lyophilized injection, Remdac™ is the most economical Remdesivir brand in India. The drug will be made available across India through the group's strong distribution chain reaching out to Government and private hospitals treating COVID patients.

"Remdac™ is the most affordable drug as we would like to enable patients to have access to this critical drug in the treatment of COVID 19", said Dr. Sharvil Patel, the Managing Director of Cadila Healthcare Limited. "Through the course of this pandemic, our efforts have been focused on supporting people in this healthcare crisis, whether it is through developing vaccines, ramping up production and distribution of critical drugs and therapies, making diagnostic tests available or exploring new treatment options", he added.

In June 2020, Zydus entered into a non-exclusive agreement with Gilead Sciences Inc., to manufacture and sell Remdesivir, the investigational drug, which has been issued an Emergency Use Authorization by the U.S. Food and Drug Administration (FDA) to treat patients suffering from severe symptoms of COVID 19. The API for the drug has been developed and manufactured at the group's API manufacturing facilities in Gujarat.

Remdac™ marks yet another step in the group's efforts to the fight the pandemic with vaccines, therapeutics and diagnostics. The group had ramped up production of HCQ and Dexamethasone when required and is also conducting clinical trials with Pegylated Interferon Alpha 2b and Desidustat for the treatment and management of COVID 19. Nearly 3 lakh COVID Kavach Elisa diagnostic tests have been supplied for surveillance. The group's plasmid DNA vaccine ZyCov-D is now in Phase II of the Adaptive Phase I&II clinical trials.

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.385.3 as compared to the previous close of Rs. 394.9. The total number of shares traded during the day was 238280 in over 5871 trades.

The stock hit an intraday high of Rs. 395 and intraday low of 381.6. The net turnover during the day was Rs. 91947188.

Source : Equity Bulls

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