The Hindu Business Line : HealthCare Global to launch 2 cancer drugs

Bangalore June 21 Cancer hospitals group HealthCare Global Enterprises, flush with two funds for expansion, is all set to launch two cancer drugs contract-manufactured for it by an Ahmedabad-based company.

HCG has tied up with bulk drug producer Sun Moon Industries to make generic formulations of paclitaxol and docetaxol. The products may be out in mid-July, Dr Ajai Kumar, promoter and CEO of Bangalore-based HCG Ltd, told Business Line.

The partnership, initially to supply to HCG's eight cancer hospitals, may be extended to more drugs, and also to domestic and US markets later, depending on its success, he said. The two drugs are used to treat a variety of cancers ranging from oral, head and neck, ovarian and breast cancer.

The aim was to provide HCG patients with cancer drugs that would be 25 per cent lower than the prevailing cost. Some medicine, prescribed for six months, cost Rs 8,000-10,000 a month; radiation and surgery would each amount to Rs 60,000-1 lakh. At least the medication — for the present meant for patients across HCG's eight centres — could be lower as the HCG-Sun Moon arrangement eliminates the trade, according to Dr Kumar.

HCG has invested a small amount in the arrangement. A similar network, US Oncology, according to him, also has such sourcing tie-ups with drug manufacturers.

Fund inflow

HCG has just received a $5-million fund from Evolvence India Life Sciences Fund for part of its Rs 150-crore expansion drive covering 35 centres.

Dr Kumar said acquisition deals were completed or were being finalised in Ahmedabad, Delhi, Kolkata, Ranchi and Nashik, mostly for stakes of 60-65 per cent in local hospitals.

Last July, the cancer care group received Rs 50 crore in funding from IDFC Private Equity. It runs a contract research and clinical trials organisation called Triesta Sciences.

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