Ferozsons subsidiary inks agreement with Gilead for manufacturing 'experimental drug' remdesivir.
Ferozsons Laboratories announced on Wednesday that its subsidiary BF Biosciences Ltd (BFBL) has signed a non-exclusive license agreement with Gilead Sciences Inc for manufacturing and selling remdesivir - an experimental antiviral drug that is being used to treat coronavirus patients.
In a notice to the Pakistan Stock Exchange, the company said that Gilead had signed non-exclusive voluntary license agreements with five South Asian manufacturers, including Hetero Drugs, Jubilant Life, Cipla, Mylan and BFBL, to "manufacture remdesivir for distribution in 127 countries".
Remdesivir: The Covid-19 drug helping patients recover faster
"Under the agreements, the companies have the right to receive a technology transfer of Gilead's manufacturing process for remdesivir to enable them to scale up production."
The company added that it was "confident" that the subsidiary would produce sufficient quantities of the drug to cater to the needs of Pakistan's Covid-19 patients as well as export it to other countries.
"The BFBL management is actively taking up the matter with the relevant stakeholders for the necessary regulatory approvals and API [active pharmaceutical ingredient] arrangements so that remdesivir is made available to patients on an urgent basis," the notice added.
Remdesivir is an experimental antiviral drug used to treat patients with the coronavirus and was...
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