Eva Pharma signs licensing deal to get remdesivir to treat COVID19
EVA Pharma “The Egyptian pharmaceutical company” has signed a licensing agreement with American Gilead Sciences for manufacturing and selling Remdesivir which is a promising treatment for coronavirus (COVID-19)
The Egyptian pharmaceutical company EVA Pharma signs licensing deal to get remdesivir by an agreement with Gilead Sciences for manufacturing and selling Remdesivir in 127 countries which is a promising treatment for coronavirus (COVID-19)
Under this deal, Eva Pharma will have a right to receive a technology transfer of the Gilead manufacturing process for Remdesivir to be able to scale up production more quickly
The license is royalty-free until the end of the public health emergency Covid-19, or another drug or vaccine is approved for treatment or prevention of the virus.
Remdesivir, originally is developed to treat Ebola, appears to shorten the recovery time of COVID19 patients.
The initial clinical trials have shown that Remdesivir may improve recovery time for people with moderate to critical symptoms.
Remdesivir has recently been authorized for the treatment of certain hospitalized patients in a number of countries including the US, the UK, and Japan.
The Egyptian pharmaceutical company EVA Pharma is yet to set a price for the drug, but it is expected to cost around EGP 2,000 ($123.6) per vial. each patient may need between five to ten vials.
And also The Egyptian pharmaceutical company EVA Pharma obtained a license from the Ministry of Health and Population to implement the new factory during the last period, which will provide the immunological drugs to the unified purchasing authority and the comprehensive health insurance system instead of importing with high prices and to reduce the burden on the state.
EVA pharma’s business performance overview
EVA Pharma has been established since 1997, is one of the leading pharmaceutical Egyptian companies in the MENA region, is ranked the 2nd manufacturer in Egypt among both multinational and local organizations.
Eva Pharma sales increased during the period from January to November 2019 by EGP 2.5 billion with a growth rate of 23.5%.
EVA pharma achieved CAGR (Compound Annual Growth Rate) of 22.5% over the last three years, so EVA Pharma considered one of the fastest-growing pharmaceutical companies in the region.
Eva Group has 6 factories in Egypt and is seeking to establish a factory in Saudi Arabia, Ethiopia, and the United Arab Emirates.