Hyderabad, Sep 14 : Hyderabad-based Saptagir Laboratories on Monday announced that it has signed an exclusive agreement with Jubilant Generics to manufacture intermediates and Active Pharmaceutical Ingredient for intravenous administered drug 'Remdesivir' used in Covid-19 treatment. The drug will be produced at its Hyderabad WHO-GMP certified sterile drug product manufacturing plant acquired at an investment of Rs 75 crore. API and intermediates innovator Saptagir is a part of the Rs 900 crore Saptagir Group while Jubliant Generics is a Jubilant Life Sciences company. "We are honoured to partner with Jubilant Generics and make available this life saving therapy to patients across countries and is a significant step towards saving millions of lives affected by the pandemic," said Shilpa Reddy, Promoter and Managing Director, Saptagir Laboratories. "This partnership is timely and in line with our strategic growth plans for the company. Our foray into bulk drug manufacturing will open new revenue streams, backed by our extensive global customer base spanning 50+ countries with an array of products targeted at the fast-growing health and wellness segment," Shilpa Reddy added. Fresh investments in the WHO-GMP certified pharma plant gives Saptagir a strong entry into an adjacent pharma vertical. The strategy is to accomplish USFDA certification for the plant and develop strong partnerships with a target to achieve 500 KL capacity in the coming few years. "We've had several successes in product development in molecules that were previously only manufactured in China. This partnership meets the need of our multinational customers who approve India as a strong second source for products beyond China. With the new investment of Rs 75 crore in the pharma plant at Hyderabad we will further grow our presence in the health and wellness business," said Mahesh Reddy, Promoter and Chairman, Saptagir Group. Remdesivir is an experimental antiviral drug developed by Gilead Sciences, Inc. as a course of treatment for Covid-19. Gilead entered into a non-exclusive licensing agreement with Jubilant Life Sciences for distribution to 127 countries. Following this, Jubilant Life Sciences through its subsidiary Jubilant Generics has entered an exclusive agreement with Saptagir Laboratories to manufacture Remdesivir. Currently, Remdesivir is the only drug that has received an emergency use authorization from the Food and Drug Administration, and has been approved for emergency use in countries such as Singapore, The USA and India, as well as permitted for use in severe cases in Japan, the EU, and Australia, for the treatment of Covid-19. The market for Remdesivir according to Gilead Life Sciences, the holder of the patent, is estimated to be $2.3 Billion for this year, and the fiscal year based upon their understanding of the situation. /IANS