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Business EconomyPosted at: Sep 14 2020 3:18PM


Saptagir Labs announces exclusive agreement with Jubilant Generic for intravenous drug 'Remdesivir'

Hyderabad, Sep 14 (UNI) Hyderabad based API and intermediates innovator Saptagir Laboratories – part of the Rs 900 crore Saptagir Group, on Monday announced an exclusive agreement with Jubilant Generics- a Jubilant Life Sciences company, to manufacture intermediates and Active Pharmaceutical Ingredient (API) 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 Crore, the Pharmaceutical company said in a release here.
Announcing this strategic partnership, Saptagir Lab Promoter and Managing Director Shilpa Reddy said this partnership is timely and in line with our strategic growth plans for the company.
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.” Shilpa said.
Fresh investments in the WHO-GMP certified pharma plant gives Saptagir a strong entry into an adjacent pharma vertical. The strategy is to accomplish USFDA certification for the plant and develop strong partnerships with a target to achieve 500 KL capacity in the coming few years, Shilpa added.
Saptagir Group Promoter and Chairman Mahesh Reddy, 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 crore in the pharma plant at Hyderabad we will further grow our presence in the health and wellness business,Mr Reddy said.
Remdesivir is an experimental antiviral drug developed by Gilead Sciences, Inc. 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.
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