Dr. Reddy's Partners with FUJIFILM and Global Response Aid for Avigan (favipiravir), a Potential Treatment of COVID-19

Author: Charles Gross | July 01, 2020 05:39am
Dr. Reddy's Laboratories Ltd. (NYSE:RDY) announces partnering with FUJIFILM Corporation through FUJIFILM Toyama Chemical Co. Ltd. (OTC:FUJIY) and Global Response Aid (hereafter referred to as "GRA") for the development, manufacture and sales of Avigan® Tablets (generic name: favipiravir), a potential treatment of COVID-19. Under the tripartite agreement signed on 30th June 2020, FUJIFILM grants Dr. Reddy's the exclusive rights of manufacturing and also grants both Dr. Reddy's and GRA the rights to develop, sell and distribute Avigan® in all countries other than Japan, China and Russia. Dr. Reddy's would have exclusive rights for development, selling and distribution of Avigan® in India. Further, FUJIFILM would receive an upfront license fee and royalties on sales from Dr. Reddy's and GRA. FUJIFILM will provide Dr. Reddy's and GRA with an array of data on Avigan®'s preclinical and clinical studies that FUJIFILM has accumulated thus far. Dr. Reddy's and GRA will use this data for clinical studies targeting COVID-19 in regions where infection has been spreading. In addition, FUJIFILM will grant Dr.Reddy's right to use Avigan®'s patents of formulation and manufacturing method. Dr. Reddy's will herewith establish a setup for manufacturing drugs of the same quality as Avigan®, and utilize GRA's global sales network to supply the manufactured drugs swiftly and in a stable manner. The FUJIFILM Group is currently conducting a clinical study on Avigan® targeting COVID-19 patients in Japan and the US, and is working to increase the drug's production by partnering with domestic and overseas companies. Dr. Reddy's and GRA shall introduce the product in the market post all applicable approvals in the respective countries.

Posted In: FUJIY RDY