According to the International Diabetes Federation, 382 million people across the world have diabetes, which is expected to rise to 592 million by 2035. The number of people with type-II diabetes is increasing in every country.
Arvind Remedies has signed an MoU with Adesh University, Punjab, to transfer the patent right to undertake exclusive manufacturing, marketing and commercialisation of drugs for type-II diabetes, depression, irritable bowel syndrome and coronary heart disease. These drugs will be manufactured in the form of tablets and will be launched in the end of 2017, first in the domestic market which will be followed by the global market, a company statement said.
According to the International Diabetes Federation, 382 million people across the world have diabetes, which is expected to rise to 592 million by 2035. The number of people with type-II diabetes is increasing in every country. "In order to curb this disease, we have come up with new drug that is from the botanical source which ensures zero side effects on the health of the patient. We are expecting this new drug to be available in the markets by mid 2015," Arvind Remedies MD and CEO B Arvind Shah said.
"Coronary heart disease is also the most common type of heart disease and is killing more than 385,000 people annually. We are happy to share that, we have been successful in developing a new drug, which will help in treatment of coronary heart disease," Shah said.
Also Read: Pharma positive growth continues in May'14, says P Lilladher
Arvind Remedies stock price
On June 11, 2014, Arvind Remedies closed at Rs 37.55, down Rs 0.4, or 1.05 percent. The 52-week high of the share was Rs 59.95 and the 52-week low was Rs 26.50.
The company's trailing 12-month (TTM) EPS was at Rs 8.65 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 4.34. The latest book value of the company is Rs 37.71 per share. At current value, the price-to-book value of the company is 1.00.
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