BRIEF—China's BrightGene latest to copy remdesivir antiviral

Chinese high-tech pharmaceutical firm BrightGene Bio-Medical Technology has developed the synthesis process and preparation technology for the active pharmaceutical ingredient in antiviral drug remdesivir, the company said in a statement earlier this week reported by Yicai Global.

The news shot the firm’s share price up 20.01% on Wednesday to stop trading under the rules of Shanghai's new sci-tech SSE board at 52.12 renminbi. The stock traded up a further 29.99% to 62.54 renminbi today.

Last week, researchers at China’s Wuhan Institute of Technology applied for a Chinese patent for the use of Gilead Sciences antiviral candidate remdesivir as a treatment for coronavirus, potentially in combination with chloroquine.

In response to the national call to fight the novel coronavirus epidemic, Jiangsu province-based BrightGene has already produced batches of the API in the medication, which shows great promise in treating the bug, and is manufacturing preparations of the compound, per the statement.

BrightGene's costs incurred in the development and production of the API and preparation is a ballpark CNY5 million renminbi ($717,500). Further expanding production will also demand a projected 10 million renminbi-odd, said Yicai Global.