Financial Daily from THE HINDU group of publications
Thursday, Oct 20, 2005
Financial Daily from THE HINDU group of publications Thursday, Oct 20, 2005 |
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Announcements Ranbaxy completes proof-of-concept studies of malaria molecule Our Bureau
New Delhi , Oct. 19 RANBAXY Laboratories Ltd has claimed that it has successfully completed the proof-of-concept phase II studies of its anti-malarial molecule, RBx 11160, jointly developed with Medicines for Malaria Venture, Geneva. According to a company statement, the findings indicate that the drug is safe and effective in reducing the malaria parasite count. Ranbaxy and Medicines for Malaria Venture have decided to progress the drug to the phase II dose range studies in India, Thailand and Africa. Dr Brian Tempest, CEO and Managing Director, Ranbaxy, said: "We are happy with the progress of RBx 11160, which is emerging as a potential anti-malarial New Chemical Entity candidate. Ranbaxy is continuing to commit its research and development expertise to the development of a safe and affordable drug that will be effective against malaria." In May 2003, the domestic pharma company entered into a private-public partnership with Medicines for Malaria Venture to develop this synthetic peroxide anti-malarial drug that may replace Artemesinin, a chemical derived from a scarce and expensive plant. The success of the molecule is important to the company as the market potential for such a drug is expected to be high. Malaria is estimated to claim the lives of more than one million people every year with the majority of its victims being children under the age of five and pregnant women. The disease is a major public health problem in more than 90 countries across the globe. Ranbaxy's share today fell by 1.87 per cent to close at Rs 410.90 per share.
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