Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

Eli Lilly signs deals to boost supply of COVID-19 treatment in India

Published 05/10/2021, 02:28 AM
Updated 05/10/2021, 02:31 AM
© Reuters. FILE PHOTO: Employees and security staff work at the reception area of Cipla at its headquarters in Mumbai, India June 17, 2015. REUTERS/Danish Siddiqui

BENGALURU (Reuters) -Eli Lilly and Co said on Monday it had signed licensing agreements with three Indian generic drugmakers to expand the availability of its arthritis drug baricitinib in the country for treating COVID-19 patients.

The agreements will bolster India's arsenal of drugs to battle its catastrophic second wave of the pandemic, which has led to an acute shortage of coronavirus medicines including remdesivir and tocilizumab.

The three Indian drugmakers - Cipla Ltd, Lupin Ltd and Sun Pharma - will collaborate with U.S.-based Lilly to help make and sell baricitinib in India.

Baricitinib has been given restricted emergency use approval by India's drug regulator for use in combination with remdesivir for the treatment of hospitalised COVID-19 adult patients requiring supplemental oxygen, Eli Lilly (NYSE:LLY) said in an emailed statement.

The U.S. Food and Drug Administration initially gave Lilly an emergency use approval in November for baricitinib in combination with remdesivir to treat COVID-19 patients.

"More licenses to additional Indian generic manufacturers are expected to be announced soon," said Luca Visini, managing director at Lilly India, without elaborating further.

Last week, Lilly said it would donate 400,000 tablets of baricitinib, to be used with remdesivir, to the Indian government.

These agreements would expand the portfolio of COVID-19 drugs offered by the country's drugmakers. All three companies offer antiviral drug favipiravir, used to treat patients with moderate to mild COVID-19.

Cipla, which also offers remdesivir and tocilizumab, said last week it would be the local distribution partner for a COVID-19 antibody drug cocktail developed by Roche and Regeneron (NASDAQ:REGN), after the therapy got domestic emergency use approval.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Separately, smaller Indian drugmaker Natco Pharma said https:// earlier this month it would request a compulsory license based on emergency approval for its own generic version of baricitinib.

India reported 366,161 new infections and 3,754 deaths on Monday, dipping from recent peaks, while calls grew for a nationwide lockdown.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.