AIRLINK 73.06 Decreased By ▼ -6.94 (-8.68%)
BOP 5.09 Decreased By ▼ -0.09 (-1.74%)
CNERGY 4.32 Decreased By ▼ -0.14 (-3.14%)
DFML 32.45 Decreased By ▼ -2.71 (-7.71%)
DGKC 75.40 Decreased By ▼ -1.48 (-1.93%)
FCCL 19.58 Decreased By ▼ -0.40 (-2%)
FFBL 36.17 Increased By ▲ 0.57 (1.6%)
FFL 9.22 Decreased By ▼ -0.31 (-3.25%)
GGL 9.90 Decreased By ▼ -0.26 (-2.56%)
HBL 116.60 Decreased By ▼ -0.40 (-0.34%)
HUBC 132.65 Increased By ▲ 0.15 (0.11%)
HUMNL 7.05 Decreased By ▼ -0.01 (-0.14%)
KEL 4.42 Decreased By ▼ -0.23 (-4.95%)
KOSM 4.37 Decreased By ▼ -0.28 (-6.02%)
MLCF 36.10 Decreased By ▼ -1.40 (-3.73%)
OGDC 133.10 Decreased By ▼ -1.37 (-1.02%)
PAEL 22.50 Decreased By ▼ -0.40 (-1.75%)
PIAA 26.04 Decreased By ▼ -0.59 (-2.22%)
PIBTL 6.56 Decreased By ▼ -0.25 (-3.67%)
PPL 114.85 Increased By ▲ 2.75 (2.45%)
PRL 26.63 Decreased By ▼ -0.57 (-2.1%)
PTC 14.05 Decreased By ▼ -0.33 (-2.29%)
SEARL 53.13 Decreased By ▼ -3.26 (-5.78%)
SNGP 67.39 Increased By ▲ 0.39 (0.58%)
SSGC 10.67 Decreased By ▼ -0.16 (-1.48%)
TELE 8.35 Decreased By ▼ -0.94 (-10.12%)
TPLP 10.80 Decreased By ▼ -0.38 (-3.4%)
TRG 63.88 Decreased By ▼ -5.12 (-7.42%)
UNITY 25.07 Decreased By ▼ -0.42 (-1.65%)
WTL 1.29 Decreased By ▼ -0.03 (-2.27%)
BR100 7,494 Decreased By -28.3 (-0.38%)
BR30 24,322 Decreased By -79.8 (-0.33%)
KSE100 71,525 Decreased By -170.4 (-0.24%)
KSE30 23,529 Decreased By -12.8 (-0.05%)
Business & Finance

Trump awards deal to company to manufacture COVID-19 drugs in US

Many of these medicines are in shortage and have previously been imported from other countries, the private company
Published May 19, 2020
  • Many of these medicines are in shortage and have previously been imported from other countries, the private company said in a statement.
  • India and China account for a vast majority of active pharmaceutical ingredients used to make drugs in the United States.

US President Donald Trump's administration has awarded a $354 million contract to US-based Phlow Corp to manufacture drugs being tested or used to fight the new coronavirus as well as some medicines that are in shortage.

Virginia-based Phlow Corp said it had started making pharmaceutical ingredients and finished dosage forms for over a dozen essential medicines to treat hospitalized patients with COVID-19-related illnesses.

Many of these medicines are in shortage and have previously been imported from other countries, the private company said in a statement.

India and China account for a vast majority of active pharmaceutical ingredients used to make drugs in the United States.

The funding immediately enabled Phlow to deliver over 1.6 million doses of five essential generic medicines used to treat COVID-19 patients to the US Strategic National Stockpile (SNS), it said.

The four-year contract will allow Phlow to lead a team of private sector entities that includes Civica Rx, Ampac Fine Chemicals and the Medicines for All Institute.

All pharmaceutical products by Phlow will be made in the United States, according to the company's website.

 

Comments

Comments are closed.