Jubilant Life Sciences' 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, the company said in a statement post market hours yesterday, 3 August 2020.
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 also launching unique programs in India aimed at distribution of the drug.
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 Sciences' investigational drug remdesivir in 127 countries including India. Remdesivir is the only antiviral drug that has received Emergency Use Authorization (EUA) by the US-based drug regulator, United States Food & Drug Administration (USFDA) for treatment of suspected or laboratory confirmed COVID-19 in adults and children hospitalized with severe disease.
Commenting on the feat, Shyam S. Bhartia, the chairman and managing director (MD) and Hari S. Bhartia, the co-chairman of Jubilant Pharma, has said that: "It gives us immense satisfaction to launch 'JUBI-R' as this drug has a 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. The company's ability to launch this product in such short timelines highlights our R&D and manufacturing capabilities and our continued commitment to provide leading healthcare solutions. Through the Jubilant Bhartia Foundation, we will distribute the drug on compassionate basis to save precious lives of people through unique programs."
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Jubilant Life Sciences' consolidated net profit stood at Rs 260.49 crore in Q4 March 2020 compared with net loss of Rs 100.65 crore in Q4 March 2019. Net sales slipped 1.9% to Rs 2,307.32 crore in Q4 March 2020 over Q4 March 2019.
Shares of Jubilant Life Sciences declined 3.69% to Rs 830.45. 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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