Ferozsons Laboratories has announced that its subsidiary BF Biosciences Ltd (BFBL) was in negotiations to enter into a non-exclusive license agreement with Gilead Sciences Inc for the manufacture and sale of Remdesivir to supply Pakistan and 126 other countries.

“There is no obligation at this time for any party to execute any transaction,” Ferozsons told the PSX in a notice.

Ferozsons share hit the upper circuit in trading on Monday as investors fell for the company stocks which also saw several other pharma companies’ record substantial gains.

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