Indian drug firm Piramal Health set to unveil patented drug in Europe

KOLKATA, India, Oct. 10 (Xinhua) -- After 10 years of trials, Indian drug company, Piramal Healthcare is ready to roll out its first patented product in Europe next month, a company official said Wednesday.

Having sold its generic drugs business to Abott, Piramal is now focused on discovering products with a patent of at least 10 to 15 years, said Swati Piramal, Vice-Chairperson.

The company has around 20 molecules under development; the first one crossed the finish line in April when it bagged the European drug regulator's nod. "We are hopeful of launching in India in the next few months," said Swati Piramal.

This orthopaedic product is used to regenerate damaged cartilage in the knee joint. The substance is injected into the hole in the cartilage; this aids stem cells from the bone to grow and close the hole in a few months.

Previously, the cartilage had to be cut off, grown outside in a petri dish and then put back into the joint.

The product has been developed in Piramal's labs in Montreal and Toronto. It will be produced in Piramal's facilities in Canada. (Piramal has an API facility in Toronto and bio- orthopaedic unit in Montreal.)

Piramal will market the product in 22 countries in Europe. The 23rd country will be India, followed by Canada, Australia, South Korea and Brazil. Piramal will also try this product on shoulder and ankle joints.

Next in the pipeline is a radio-imaging agent, which will go to the U.S., European and Japanese regulators in December. "Earlier, we were focused only on the Indian industry but our ambitions are now global. But drug discovery is complex and time consuming. It has taken us 10 years of research to get here," she added. Enditem

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