Arvind Remedies has entered in a Memorandum of Understanding (MoU) with SRM University, Kattankulathur, Tamil Nadu to transfer the patent right to undertake exclusive manufacturing, marketing and commercialisation of drugs for type II diabetes and coronary heart disease. These drugs will be manufactured in the form of tablets and will be launched in mid 2015, first in the domestic market which will be followed by the global market.
The MoU was signed in the presence of Dr TR Pachamuthu, Chancellor, SRM University. Registrar of SRM University Dr N Sethuraman, signed the MoU on behalf of SRM University, while Dr B Arvind Shah, Managing Director and Chief Executive Officer signed the MoU on behalf of Arvind Remedies, Chennai.
Other delegates who were present in the signing ceremony include, Dr GP Dubey, Inventor of these drugs & Study Director, ISISM, SRM University, Prof TP Ganesan, Pro Vice chancellor, SRM University, Dr K Ilango, Dean, ISISM, SRM University, Dr Aruna Agrawal, Professor, Faculty of BHU and Anand Shah, Vice President, Arvind Remedies.
Dr B Arvind Shah, Managing Director and Chief Executive Officer, Arvind Remedies, said, “According to the International Diabetes Federation, 382 million people across world have diabetes, which is expected to rise to 592 million by 2035. The number of people with type II diabetes is increasing in every country. In order to curb this disease, we have come up with new drug that is from the botanical source which ensures zero side effects on the health of the patient. We are expecting this new drug to be available in the markets by mid 2015.”
Shah said, “Coronary heart disease is also the most common type of heart disease and is killing more than 385,000 people annually. We are happy to share that, we have been successful in developing a new drug, which will help in treatment of coronary heart disease.”
EP News Bureau – Mumbai