Karachi, May 30, 2020: The Searle Company Limited has successfully entered into an exclusive licensing & marketing agreement with Beximco Pharmaceuticals, Bangladesh. Searle is the first and only pharmaceutical company in Pakistan to source the generic version of Remdesivir for the treatment of Covid-19 through the Patient Access Program.
Remdesivir is a direct acting broad-spectrum antiviral drug that inhibits viral RNA synthesis. Administered intravenously, Remdesivir is approved by the US Food & Drug Association (FDA) and has been authorized for the treatment of hospitalized patients with severe COVID-19 disease, across U.S. and Japan.
The Government of Pakistan has sanctioned this product under section 96 of the Securities Act, 2015, and clause 5.6.1(a) of the Rule Book of the Pakistan Stock Exchange Limited. This will provide an immediate supply of the product at an affordable price and help healthcare providers of Pakistan to treat their hospitalized Covid-19 patients without any delay.
Initially, Searle is planning to import Remdesivir to meet the country’s urgent requirements by distributing it free of cost to COVID units in hospitals across the country. The company is actively taking the matter to the relevant authorities of Pakistan for necessary regulatory approval. Searle is confident that in the existing pandemic, the authorities will consider the matter on an urgent basis to support the product’s availability on the fastest track.
Searle also intends to donate a sizeable quantity to the Government of Pakistan to help them battle against the pandemic more effectively. The company was amongst the first ones to take the initiative of donating PPEs and crucial equipment to frontline healthcare providers.
To this date, Searle is the biggest donor, providing more than 100,000 PPE including Hazmat Suits, Hand Sanitizers, Latex, and Nitrile Gloves, N95 masks and thousands of other Personal Protective Equipment.
“Searle is at the forefront of helping and supporting our brave essential workers in these trying times as we vow to offer our assistance in providing all the needed resources to ensure their safety and protection in battling the COVID-19 pandemic” Syed Nadeem Ahmed – CEO The Searle Company.
