Jubilant Life Sciences on Monday after the market hours announced the launch of Remdesivir for 100 mg/vial (Lyophilized injection) at a price of Rs 4,700.
The company is going to market this product under the brand name ‘Jubi-R’ in India. The company will make the drug available to over 1,000 hospitals providing COVID-19 treatment in India through its distribution network.
To make this injection available to the patients below the poverty line and to front line paramedical staff, the company will run a not-for-profit organisation and is launching unique programs in India aimed at the distribution of the drug.
Previously in May 2020, the company had signed a non-exclusive licensing agreement with Gilead Sciences, Inc. thus, providing the former with a right to register, manufacture and sell Gilead’s investigational drug Remdesivir in 127 countries, which includes India as well.
Remdesivir is the only antiviral drug, which has received emergency use authorisation (EUA) by United States Food and Drug Administration (USFDA) for treating suspected or laboratory-confirmed COVID-19 in adults and children, who are hospitalised with severe disease.
Jubilant Life Sciences Limited is an integrated global pharmaceutical, engaged primarily in pharmaceuticals, life science ingredients, and drug discovery as well as development solutions business.
Today, the stock of Jubilant Life Sciences jumped nearly six per cent and made an intraday high of Rs 909.75 on BSE.