Strides Pharma spurts ~6% on joining hands with Medicines Patent Pool to commercialize its drug

21 Mar 2022 , 02:54 PM

In its press release today, Strides Pharma Science Ltd. has informed the investors that the company has entered into a sub-license agreement with MPP to commercialize a generic version of Pfizer’s COVID-19 oral treatment in 95 low and middle-income markets.

This drug is developed by Pfizer, and the treatment is SARS-CoV-2 main protease inhibitor oral antiviral therapy. The drug comprises nirmatrelvir tablets which are co-packaged and co-administered with ritonavir tablets. The product has been recognized and approved as a Covid-19 oral therapy for emergency use in the U.S. and many other countries, both amongst high-risk adults and high-risk pediatric patients.

Speaking on the development, Arun Kumar, Founder, Strides Pharma Science Limited said, “Kovidax is the latest addition in our covid care portfolio and is part of our dedication and commitment to developing high-quality medicines to fight the challenges of Covid-19 outbreak globally. We are thrilled to collaborate with MPP to commercialize the generic version of the Pfizer product and reach out to the global markets. Our motive lies in the scalability and affordability, and we are hopeful of maximizing the reach for Kovidax in a short period.”

The company will launch Strides’ generic version of the Pfizer oral treatment in 95 countries as part of its sub-licensing agreement with MPP.

The manufacturing unit for this product will be Strides’ flagship facility in Bengaluru, and the company has proactively secured its Active Pharmaceutical Ingredients (API) supplies through a preferred partnership arrangement.

Strides Pharma is currently trading at Rs354.80 up by Rs20.7 or 6.2% from its previous closing of Rs334.10 on the BSE. It touched day’s high and low of Rs357.30 and Rs336.05 respectively.