Pfizer has inked a multi-year agreement with Gilead Sciences to manufacture and supply the investigational antiviral drug remdesivir for the treatment of COVID-19.
Under the terms of the agreement, Pfizer will provide contract manufacturing services at its McPherson, Kansas facility in the US to manufacture and supply remdesivir for Gilead.
Following the agreement, Pfizer has become one of multiple external manufacturing organisations supporting efforts to scale-up the supply of the promising investigational COVID-19 treatment.
The deal supports Pfizer five-point plan, launched in March, which called on all members of the ‘innovation ecosystem’ to commit to working together in addressing the COVID-19 pandemic.
That includes large pharmaceutical companies and smaller biotech companies, as well as government agencies and academic institutions.
“From the beginning it was clear that no one company or innovation would be able to bring an end to the COVID-19 crisis. Pfizer’s agreement with Gilead is an excellent example of members of the innovation ecosystem working together to deliver medical solutions,” said Albert Bourla, Chairman and Chief Executive Officer at Pfizer.
“Together, we are more powerful than alone. As one of the largest manufacturers of vaccines, biologics and sterile injectables, it is a privilege to offer our expertise and infrastructure to help fight this pandemic.
“In that spirit, we are pleased that Gilead is using our manufacturing capacity to help facilitate supply of this medicine to patients as quickly as possible,” he added.
By: Lucy Parsons
Source: Pharma Times
Sun Pharmaceutical Industries has signed a definitive agreement to buy all outstanding shares of Concert Pharmaceuticals in a deal valued at $576m. Under the deal, the company will buy all shares of Concert common stock through a tender offer for $8.00 per share in cash upfront payment.
The Food and Drug Administration on Thursday approved Novo Nordisk’s diabetes pill Rybelsus as an initial treatment to lower blood sugar levels, a label expansion that will allow it to compete more directly with other oral drugs from Merck & Co. and Eli Lilly.
Since making an ill-advised $63 billion buy of Monsanto in 2018, Bayer has faced heaps of pressure from investors that have called for the company to oust its leadership and to restructure. Now comes new pressure from a familiar source. Bluebell Capital Partners has bought an undisclosed stake in the company and is agitating for a breakup, sources told Reuters.