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Mumbai Jan. 22 Nicholas Piramal India Ltd (NPIL) has entered into a Plant Screening Agreement with US-based Napo Pharmaceuticals Inc to discover diabetes therapeutic agents. NPIL will utilise its high throughput screening facility and natural product chemistry expertise along with biological testing capabilities to identify active compounds from Napo's library of medicinal plant extracts from tropical regions. NPIL and Napo will jointly own the products developed under the agreement.

"This agreement allows us to utilize our state of the art screening capabilities and expertise in working with natural products and at the same time provide NPIL access to new product opportunities. Diabetes is a major focus of NPIL," said Dr Somesh Sharma, CSO. Napo Pharmaceuticals focuses on the development and commercialisation of proprietary pharmaceuticals for the global marketplace in collaboration with local partners. Shares of Nicholas Piramal fell 2.20 per cent to close at Rs 260.40 on BSE.

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