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Jubilant Life Sciences Ltd on Monday announced that its subsidiary, Jubilant Generics, has launched remdesivir for injection under the brand name ‘JUBI-R’ in the Indian market at a price of Rs 4,700 per vial of 100 mg (lyophilized injection).
Jubilant Life Sciences on Monday announced that its subsidiary, Jubilant Generics, has launched remdesivir for injection under the brand name ‘JUBI-R’ in the Indian market at a price of Rs 4,700 per vial of 100 mg (lyophilized injection). The company will make the drug available to over 1,000 hospitals providing COVID-19 treatment in India through its distribution network.
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In May 2020, Jubilant had entered into a non-exclusive Licensing Agreement with Gilead Sciences, Inc. 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.
On July 20, 2020, Jubilant received approval from the Drug Controller General of India (DCGI) to manufacture and market the investigational antiviral drug remdesivir (JUBI-R) for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19.
“JUBI-R will require to be administered intravenously in a hospital setting under the supervision of a medical practitioner,” the company said in a regulatory filing.
“It gives us immense satisfaction to launch ‘JUBI-R’ as this drug has potential to save precious lives across the globe. We have launched the product at affordable prices and strive to make it available in sufficient quantities to meet high demand for the drug in the Indian market and in other countries,” said Shyam Bhartia, Chairman & Managing Director and Hari Bhartia, Co-Chairman, Jubilant Pharma.
Further, in order to increase accessibility of ‘JUBI-R’ to patients below the poverty line and to front line paramedical staff, Jubilant Bhartia Foundation, a not-for-profit organisation of Jubilant Group, is launching unique programs in India aimed at distribution of the drug, the company added.
On Monday, the shares of Jubilant Life Sciences surged 8.42 percent to end at Rs 862.30 apiece on the BSE.