Jubilant Life Sciences rose 2.49% to Rs 739.45 after the company received the Indian drug regulator's approval of 'JUBI-R' (remdesivir) in India for the treatment of COVID-19.
Jubilant Life Sciences' subsidiary, Jubilant Generics, has received approval from the Drug Controller General of India (DCGI) to manufacture and market the investigational antiviral drug remdesivir for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19.Jubilant's remdesivir product will be marketed under the brand name JUBI-R in India and will be made available in 100 mg vials (injectable). It would be administered intravenously in a hospital setting under the supervision of a medical practitioner. The company will distribute the drug in the Indian market through its distribution network and will be available by the first week of August 2020.
In May 2020, Jubilant 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.
Shares of Jubilant Life Sciences have risen 9.4% in three trading sessions. In last one month, the stock has jumped 14.27% compared with 2.8% rise in Nifty Pharma index.
Jubilant Life Sciences is an integrated global pharmaceutical and life sciences company engaged in pharmaceuticals, life science ingredients and other businesses including drug discovery solutions.
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