Hyderabad-based Saptagir Laboratories, part of the ₹900 crore Saptagir Group, on Monday announced an exclusive agreement with Jubilant Generics- a Jubilant Life Sciences company, to manufacture intermediates and Active Pharmaceutical Ingredient (API) for intravenous administered drug Remdesivir.
The drug will be produced at its Hyderabad World Health Organization (WHO) GMP certified sterile drug product manufacturing plant, acquired at an investment of ₹75 crore.
Remdesivir is an experimental antiviral drug developed by Gilead Sciences, Inc. as a course of treatment for covid-19. Gilead entered into a non-exclusive licensing agreement with Jubilant Life Sciences for distribution to 127 countries. Following this, Jubilant Life Sciences through its subsidiary Jubilant Generics has entered an exclusive agreement with Saptagir Laboratories to manufacture Remdesivir.
“This partnership is timely and in line with our strategic growth plans for the company. Our foray into bulk drug manufacturing will open new revenue streams, backed by our extensive global customer base spanning over 50 countries with an array of products targeted at the fast-growing health and wellness segment,” Shilpa Reddy, Promoter and Managing Director, Saptagir Laboratories.
Fresh investments in the WHO-GMP certified pharma plant gives Saptagir a strong entry into an adjacent pharma vertical. The strategy is to accomplish US FDA certification for the plant and develop strong partnerships with a target to achieve 500 KL capacity in the coming few years.
“We’ve had several successes in product development in molecules that were previously only manufactured in China. This partnership meets the need of our multinational customers who approve India as a strong second source for products beyond China. With the new investment of ₹75 crores in the pharma plant at Hyderabad we will further grow our presence in the health and wellness business,” Mahesh Reddy, Promoter & Chairman, Saptagir Group said.
Currently, Remdesivir is the only drug that has received an Emergency Use Authorization from the US health regulator, and has been approved for emergency use in countries such as Singapore, India, Japan, Europe, and Australia, for the treatment of covid-19.
In the view of current situation, according to Gilead Life Sciences, the market for Remdesivir is pegged at $2.3 billion. Given that India, other countries continues to register an increase in the number of new cases worldwide and there is an acute need for availability of life saving products drugs such as Remdesivir.
Saptagir Camphor, the flagship Group company of Saptagir Laboratories, is the largest manufacturer of Camphor in India and second-largest globally as well as several other aromatic ingredients that serve the largest flavor and fragrance manufacturers in the world. LiveMint