(Reuters) – British company Hikma Pharmaceuticals said Friday that it had begun producing remdesivir, Gilead’s antiviral drug, under contract in Portugal, as the US company subcontracted to increase the availability of COVID-19 treatment.
Remdesivir is one of only two drugs that have been shown to help patients hospitalized with COVID-19 in clinical trials, making it a leading remedy for the disease caused by the new coronavirus.
Hikma’s lead executive, Siggi Olafsson, said the company would start supplying batches of the drug “soon” and that Gilead would distribute it.
“The terms of the agreement are confidential, we are only a contract manufacturer for Gilead; they ask us for products as they expect sales to be,” Olafsson told Reuters in a phone interview.
Remdesivir, administered intravenously, has been approved or conditionally supported in many regions to treat COVID-19, which has killed more than 800,000 people worldwide.
Gilead’s commitment to send almost everyone to the United States between July and September has raised considerations about availability elsewhere.
This week, a bipartisan organization of attorneys general of the United States suggested that Washington allow other corporations to conduct processing to increase availability and price.
On Friday, Pfizer announced that he had signed a multi-year agreement with Gilead to manufacture and remdesivir.
Gilead said Thursday that its drug production network has grown to more than 40 in North America, Europe and Asia.
The company said in June that its goal is to supply enough medicines until the end of the year to treat more than 2 million COVID-19 patients, more than double its previous target of 1 million.
Gilead has signed several generic drug brand pacts in Egypt, India and Pakistan to distribute remdesivir in 127 countries. The agreements come with cipla Jubilant and the hetero corporate staff.
Hikma’s announcement of the deal with Gilead helped his shares rise more than 10 on Friday, as he also reported an increase in operating profit in the first half of the year and advanced his sales outlook.
According to analysts, the agreement highlights “hikma’s growing importance as a reliable source of medicines.”
Pushkala Aripaka reports in Bengaluru; Editing via Arun Koyyur / Josephine Mason / Susan Fenton
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