Jubilant Life Sciences share price jumped over 5 percent to hit a fresh 52-week high on Tuesday after the pharma major launched remdesivir for injection under the brand name ‘JUBI-R’ in the Indian market for the treatment of COVID-19 patients. The stock gained as much as 5.5 percent to a new high of Rs 909.75 apiece on the BSE. The shares have rallied more than 295 percent since its 52-week low of Rs 230 hot on March 25, 2020.

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At 9:45 am, the shares traded 1.56 percent higher at Rs 875.75 apiece.

On Monday, Jubilant Life Sciences had announced that its subsidiary, Jubilant Generics, launched remdesivir for injection under the brand name ‘JUBI-R’ in the Indian market at a price of Rs 4,700 per vial of 100 mg (lyophilized injection). The company will make the drug available to over 1,000 hospitals providing COVID-19 treatment in India through its distribution network.

In May 2020, Jubilant had entered into a non-exclusive Licensing Agreement with Gilead Sciences, Inc. that granted it the right to register, manufacture and sell Gilead’s investigational drug remdesivir in 127 countries including India.

Remdesivir is the only antiviral drug that has received Emergency Use Authorization (EUA) by the USFDA for treatment of suspected or laboratory-confirmed COVID-19 in adults and children hospitalised with severe disease.

On July 20, 2020, Jubilant received approval from the Drug Controller General of India (DCGI) to manufacture and market the investigational antiviral drug remdesivir (JUBI-R) for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19.

“JUBI-R will require to be administered intravenously in a hospital setting under the supervision of a medical practitioner,” the company said in a regulatory filing.

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