Hikma Pharmaceuticals logo

HIK - Hikma Pharmaceuticals News Story

2650p 11.0  0.4%

Last Trade - 18/09/20

Sector
Healthcare
Size
Large Cap
Market Cap £6.11bn
Enterprise Value £6.50bn
Revenue £1.77bn
Position in Universe 133rd / 1807

UPDATE 1-UK's Hikma starts manufacturing COVID-19 drug remdesivir for Gilead

Fri 7th August, 2020 11:45am
(Adds background on remdesivir, Gilead's supply deals)
    Aug 7 (Reuters) - Hikma Pharmaceuticals  HIK.L  has started
manufacturing remdesivir, an approved treatment for COVID-19
from U.S.-based Gilead  GILD.O , for an undisclosed amount at
its facility in Portugal, the British company's chief executive
officer said.
    It will supply the first batches of the antiviral drug
"soon," and Gilead is expected to distribute the treatment, CEO
Siggi Olafsson told Reuters on Friday.
    "The terms of the deal are confidential, we are simply a
contract manufacturer for Gilead - they order products from us
as they expect the sales to be," he said.
    Remdesivir has been a front-runner treatment for the illness
caused by the new coronavirus. Administered intravenously and
conditionally approved or supported in many regions to treat
COVID-19, which has killed more than 800,000 people globally,
the drug had failed tests as a treatment for Ebola.  urn:newsml:reuters.com:*:nL4N2EA2LZ
    Gilead had said in June it was aiming to supply enough drug
by the end of the year to treat more than 2 million COVID-19
patients, more than double its prior target of 1 million.
 urn:newsml:reuters.com:*:nL4N2DZ3UN
    The drugmaker has signed several pacts with generic medicine
makers in Egypt, India and Pakistan to distribute remdesivir in
127 countries. The deals include those with Cipla  CIPL.NS 
Jubilant  JULS.NS  and privately held Hetero.  urn:newsml:reuters.com:*:nL4N2DP31X
    Hikma's deal, which analysts have said highlights its
"growing importance as a trusted source of essential medicines,"
was announced along with its interim earnings results on Friday.
 urn:newsml:reuters.com:*:nL4N2F91ZX

 (Reporting by Pushkala Aripaka in Bengaluru; Editing by Arun
Koyyur)
 ((Pushkala.A@thomsonreuters.com; Twitter: @pullthekart; within
UK: +44 20 7542 1810, outside UK: +91 80 6182 2600; Mobile: +91
852 751 3793 ;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.