Arvind Remedies signs MoU with Adesh University to launch new drugs

NEW DELHI: Drug firm Arvind Remedies has inked a pact with Adesh University to make formulation products targeting certain diseases such as diabetes and depression based on the Punjab based institution's patents.

"The company has signed Memorandum of Understanding with Adesh University, Punjab, to transfer the patent rights to the company for manufacturing and marketing of formulation products from botanical source for treatment of Type 2 diabetes, coronary heart disease, neuro and anti-depression," Arvind Remedies said in a filing to the BSE.

The drugs will be manufactured in form of tablets and will be launched in the domestic market by 2017 followed by the global market, it added.

Shares of Arvind Remedies today closed at Rs 37.10 per scrip on BSE, up 0.41 per cent from its previous close.