Nicholas Piramal in pact with US co Napo
Domestic pharmaceutical major Nicholas Piramal India has entered into a plant screening agreement with San Francisco-based Napo Pharmaceuticals Inc to discover novel diabetes therapeutic agents.
By PTI |
MUMBAI: Domestic pharmaceutical major Nicholas Piramal India has entered into a plant screening agreement with San Francisco-based Napo Pharmaceuticals Inc to discover novel diabetes therapeutic agents.
Both the companies would jointly own all products that are developed under the agreement, a Nicholas Piramal statement to the Bombay Stock Exchange said.
"We are delighted to have this opportunity to work with Napo and look forward to a close working relationship. This agreement allows us to utilise our state of the art screening capabilities and expertise in working with natural products for both Companies benefit, and at the same time provide NPIL with access to new product opportunities," Nicholas Piramal India CSO Somesh Sharma said.
As part of the agreement, Nicholas Piramal would utilise its high throughout screening facility, natural product chemistry expertise along with biological testing capabilities to identify active compounds from Napo's library of medicinal plant extracts from tropical regions.
Diabetes is a major focus of NPIL and the incidence of diabetes among the populations we serve has grown significantly over the past decade to where it is a major health concern, Sharma added.
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