Cadila Healthcare gains on agreement with Gilead

Cadila Healthcare rose 2.09% to Rs 381.80 after the company signed a non-exclusive licensing agreement with Gilead Sciences Inc., for the manufacturing and distribution of Remdesivir.

The announcement was made after market hours on Friday, 12 June 2020.

As part of the non-exclusive agreement, Zydus will receive the manufacturing know-how from Gilead Sciences Inc., to manufacture the API for Remdesivir and the finished product and market it in 127 countries, including India. Under the agreement, the license is royalty free until another pharmaceutical product or vaccine is approved for the treatment or prevention of COVID 19 by the USFDA or EMA or the WHO announcing the end of the public health emergency. Zydus will leverage its ability to scale up production to reach patients across India and across the 127 countries in Gilead's Global Patient Solution region.

Remdesivir is 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 Novel Coronavirus. Zydus has been supporting the fight against COVID 19 with therapeutics, vaccines and diagnostics.

Remdesivir is an investigational nucleotide analog with broad-spectrum antiviral activity both in vitro and in vivo in animal models against multiple emerging viral pathogens, including Ebola, Marburg, MERS and SARS. In vitro testing conducted by Gilead has demonstrated that Remdesivir is active against the virus that causes COVID-19. The safety and efficacy of remdesivir to treat COVID-19 are being evaluated in multiple ongoing Phase 3 clinical trials.

Zydus Cadila is an innovative, global pharmaceutical company that discovers, develops, manufactures and markets a broad range of healthcare therapies.

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