Pakistan’s AGP Pharmaceutical Company to Sell Covid-19 Drug Within Two Months
Pakistan’s AGP Ltd., an associate of Mylan NV, plans to sell the Covid-19 medication remdesivir, which has been conferred to intensify the recovery of coronavirus subjects within one to two months in the Asian country.
AGP intends to seek approval from the country’s drug administration to import it, and chief executive officer Nusrat Munshi spoke in an interview. It has a matching arrangement for the Hepatitis C medication Sovaldi, which will import from Mylan. AGP is Mylan’s exclusive seller in Pakistan.
The advancement comes a few weeks after remdesivir’s original creator California-based Gilead Sciences Inc. signed deals with four generic drug producers in India and one in Pakistan to speed development and help reach expected demand. A group of Pakistan’s Ferozsons Laboratories Ltd. is currently the exclusive licensee in the country.
AGP grew by 7.5% daily limit, the most in nearly two weeks, before paring gains to 4.8% with trading volume more than nine times the 20-day average.
The global drive to develop coronavirus medications and vaccines is stimulating as governments look for methods to ease lockdowns cautiously and restart economies. Moderna Inc.’s vaccine carried a critical initial safety test last week, and countries from the U.K. to China are accelerating to develop their vaccines. Gilead’s drug was originally produced in 2010 to treat Ebola.
AGP has also sold around 100,000 anti-body test kits since last month to hospitals and private corporations looking to test their workers as more people return to the job. According to Nusrat Munshi, the organization has another 100,000 kits and is contemplating importing more as it observes great demand.
Pakistan has about 76,000 infections and more than 1,600 deaths. The country has tested less people than Ghana and has observed the possibility of a test turning out positive almost twice to over 20% in the past week, the highest since the outbreak started.