Mumbai, Sept 22 (UNI) JB Chemicals&Pharmaceuticals has entered into a non-exclusive license agreement with Gilead Sciences, Inc (NASDAQ:GILD) to manufacture and distribute a generic version of tenofovir disoproxil fumarate-sold by Gilead under the brand name Viread (R).
Announcing this to BSE, the company pointed out that Tenofovir is an anti retroviral drug, which is found to be useful in the cases who are resistant to other anti-retroviral agents. The drug is indicated for the treatment of HIV-1 infection in adults.
Currently, over 6 mn people in India are suffering from this life threatening disease. Taking into consideration the phenomenal rise in the number of people with HIV in India, tenofovir will be a welcome addition.
As per the terms of the license agreement, Gilead has granted the Company a non-exclusive licensing right to manufacture and distribute generic versions of tenofovir to 95 countries including India. It will register and distribute this drug on its own or through its partners/distributors in these countries.
In consideration of Gilead having agreed to provide technology know-how for active pharmaceutical ingredient (API)&finished product. The Company shall pay a royalty on Net Sales of the finished product to Gilead.
Commenting on the development, Mr J B Mody, Chairman&Managing Director said ''We are pleased to enter into a licensing agreement with Gilead which marks our first entrance into the Anti-Retroviral (ARV) segment. Through this product, we will be able to meet the needs of patients suffering from HIV in India and in many low-income countries and will continue to expand our basket of ARV products through internal development and licensing agreements to meet the unmet needs of patients suffering from HIV''.
The Company plans to launch a specialty division in the second quarter of FY 2007 for marketing ARV drugs in India. Presently, the market size for ARV products in India is estimated to be about Rs 100 crore, taking into account the annual sales of ARV drugs worldwide mainly in developing continents such as African Continent, South-East Asia etc., which offers tremendous opportunity for growth.
UNI SN PM SKB1951
Announcing this to BSE, the company pointed out that Tenofovir is an anti retroviral drug, which is found to be useful in the cases who are resistant to other anti-retroviral agents. The drug is indicated for the treatment of HIV-1 infection in adults.
Currently, over 6 mn people in India are suffering from this life threatening disease. Taking into consideration the phenomenal rise in the number of people with HIV in India, tenofovir will be a welcome addition.
As per the terms of the license agreement, Gilead has granted the Company a non-exclusive licensing right to manufacture and distribute generic versions of tenofovir to 95 countries including India. It will register and distribute this drug on its own or through its partners/distributors in these countries.
In consideration of Gilead having agreed to provide technology know-how for active pharmaceutical ingredient (API)&finished product. The Company shall pay a royalty on Net Sales of the finished product to Gilead.
Commenting on the development, Mr J B Mody, Chairman&Managing Director said ''We are pleased to enter into a licensing agreement with Gilead which marks our first entrance into the Anti-Retroviral (ARV) segment. Through this product, we will be able to meet the needs of patients suffering from HIV in India and in many low-income countries and will continue to expand our basket of ARV products through internal development and licensing agreements to meet the unmet needs of patients suffering from HIV''.
The Company plans to launch a specialty division in the second quarter of FY 2007 for marketing ARV drugs in India. Presently, the market size for ARV products in India is estimated to be about Rs 100 crore, taking into account the annual sales of ARV drugs worldwide mainly in developing continents such as African Continent, South-East Asia etc., which offers tremendous opportunity for growth.
UNI SN PM SKB1951
Oneindia Login