Mylan Strikes Licensing Deal for Therapy Aimed at Treating Covid-19 Patients

   By Micah Maidenberg 
 

Mylan NV said Tuesday it struck a deal to license remdesivir, a therapy that may treat patients with Covid-19, from Gilead Sciences Inc.

Under terms of the agreement, Mylan has the right to manufacture and distribute remdesivir in 127 low- and middle-income countries including India, Mylan said in a statement.

The licensing deal is non-exclusive, the statement says.

Two global clinical trials focused on remdesivir have shown positive results, reducing the recovery time for patients with Covid-19, Mylan said in a statement.

"The full efficacy and safety of the treatment are still under investigation," the company said.

The treatment was granted an emergency use authorization to treat hospitalized Covid-19 patients in the U.S., Mylan said. It is recommended for compassionate use in Europe and recently received regulatory approval in Japan, according to the company.

Remdesivir is the 10th medicine licensed to Mylan by Gilead.

Write to Micah Maidenberg at [e-mail]

(END) Dow Jones Newswires

May 12, 2020 16:57 ET (20:57 GMT)

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