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Biotech major Biocon on Saturday said it will soon come out with a new drug for treating inflammatory skin disease Psoriasis as the first clinical trial of the drug has shown encouraging results.
“We are now developing a second drug which is an interesting drug, it is for autoimmune (diseases)... we have done the first trial for Psoriasis (and have seen) startling improvement in curing this disease.
“That is the drug we hope to enter the market soon,” Biocon Managing Director and Chairman Kiran Mazumdar Shaw told a CII gathering here.
She further said the new drug also holds potential for treating other diseases like multiple sclerosis and rheumatoid arthritis.
Talking about the company’s agreement with US-based Bristol-Myers Squibb for oral insulin new drug candidate IN-105, Shaw expressed hope that the new drug would be ready in next three to four years.
”...if we succeed (in developing drug) we will be the first company in the world to have oral insulin and we hope in 3-4 years this drug will be a reality and it will be a huge recognition of innovation for an Indian company,” she said.
Biocon yesterday announced that it had entered into option agreement with Bristol-Myers Squibb whereby the US will have the right to exercise an option to obtain an exclusive worldwide licence to the programme.
Biocon had said it would retain the exclusive rights to IN-105 in India.
She said her company had major share in insulin market throughout the world. “We have 60 per cent share in Mexico (for insulin) and huge presence in Latin America and North America,” she said.
Terming the country’s low spending on public health as a major challenge, Shaw said India would have to scale up the spending on health as percentage of GDP to provide good and affordable healthcare facilities to people.
“Our public spending on health is at one per cent of GDP which is amongst the lowest in the world. Though in 12th five year plan, it has been projected at three per cent but it is not enough. Most of other countries spend 10 per cent of their GDP on health,” she said.
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