Laurus Labs enters into strategic partnership agreement with the Global Fund.
Laurus Labs received a maiden TLD order and executed post the USFDA approval in February 2019.
Hyderabad, March 26, 2019, Laurus Labs Ltd. (Laurus BSE: 540222, NSE: #Lauruslabs, ISIN: INE947Q01010) Laurus Labs Ltd is pleased to announce that the Company has entered into a strategic partnership agreement with Global Fund for a period of 3.5 years. Through this long term agreement Laurus Labs will have the volume commitments from the Global Fund for the treatment of HIV/AIDS.
Under this Partnership agreement Laurus Labs received and executed the order from Global Fund which would cater to the supplies of the high burden diseases countries in Sub Saharan African (SSA) region. This is the maiden order for Tenofovir/Lamivudine/Dolutegravir 300/300/50mg (TLD) after the Company received a tentative approval from USFDA in the month of February 2019.
Commenting on the development Dr. Satyanarayana Chava, Founder and CEO, Laurus Labs, said, “We’re greatly encouraged by the strategic partnership agreement with Global Fund and also the maiden order for Laurus Labs from Global Fund. We thank Global Fund team for placing its trust for a new entrant like us in ARV – FDF space. For Laurus Labs it is a very significant development which has ventured into the FDFs couple of years ago. This partnership has increased the company’s commitment to contribute to the global mission for treating millions of HIV AIDS patients across the globe.”
Laurus Labs believes that this strategic partnership with Global Fund would increase the access for the HIV/AIDS treatment by meeting the unmet needs, helping to save the lives of millions.
About Laurus Labs Limited: Laurus Labs is a leading research & development driven and fully integrated pharmaceutical company in India. The Company has grown consistently to become one of the leading manufacturers of Active Pharmaceutical Ingredients (APIs) for anti-retroviral (ARV) and Hepatitis C. Laurus also manufactures APIs in Oncology and other therapeutic areas. Its strategic and early investments in R&D and manufacturing infrastructure have enabled it to become one of the leading suppliers of APIs in the ARV therapeutic area. The company has also ventured into develop a Finished Dosages Forms on the back of existing strengths in APIs with a current capacity of 5 billion units per year, expandable up to 8 billion units per year. The Company is also driving growth opportunities in the Synthesis and Ingredients businesses. Corporate Identification No: L24239AP2005PLC047518.
About Global Fund The Global Fund is a 21st-century partnership organization designed to accelerate the end of AIDS, tuberculosis and malaria as epidemics. Founded in 2002, the Global Fund is a partnership between governments, civil society, the private sector and people affected by the diseases. The Global Fund raises and invests nearly US$4 billion a year to support programs run by local experts in countries and communities most in need. www.theglobalfund.org
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