Strides Arcolab, a pharmaceutical company manufacturing IP-led niche products, today announced that it has entered into a licensing agreement with Gilead Sciences under which Gilead has extended non-exclusive rights to Strides to manufacture and distribute Tenofovir Alafenamide (TAF), both as a single agent product and in combination with other drugs.
The license being granted to Strides extends to 112 countries, which together account or more than 30 million people living with HIV.
Shares of the company gained Rs 19.50, or 2.10%, to trade at Rs 945.95 at the BSE (10.22 a.m., Tuesday).