Ranbaxy, US co tie up for HIV drug

Ranbaxy Laboratories Ltd said on Monday it has entered into a licensing agreement with US-based Gilead Sciences Inc for manufacturing and marketing of Active Pharmaceutical Ingredient and formulations containing anti-HIV drug Tenofovir Disoproxil Fumarate.

While the API would be made available to other Gilead licensees in India, TDF formulations could be marketed in 95 developing countries including India, Ranbaxy informed the Bombay Stock Exchange.

Both API and formulations would be manufactured at Ranbaxy's manufacturing facilities in India. The licence allows for technology transfer from Gilead to the company, it added.

"We are continuously striving to provide access to high quality, affordable medicines to HIV patients across the developing world. The agreement with Gilead for Tenofovir will greatly help in that endeavour," Ranbaxy CEO and MD Malvinder Mohan Singh said.

The company's continued focus on Research and Development has resulted in several approvals in developed markets and significant progress in new drug discovery research, it said.

Gilead sells TDF under the brand name Viread. Shares of the company were trading at Rs 415.45, up 0.40 per cent at the BSE.

Do you want to discuss stock tips? Do you know a hot one? Join the Stock Market Investments Discussion Group