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"We do not want to conduct any clinical trials in India as the Indian government has imposed unreasonable regulations pertaining to compensating both - patients and their families, in the event of an adverse effect as a result of the trial," said the medical-entrepreneur, Dr Natarajan Ranganathan, MD of the US-based biotech company, Kibow, during the launch of their product ‘Renadyl', here in Bangalore on March 11, 2014.
Dr Ranganathan said that each bottle will be sold at Rs 2500 in India as a launch offer.
However, he refused to comment on the pharma companies with whom Kibow is seeking to collaborate.
Renadyl is manufactured externally by a contract research organization, said the MD, as they do not have a manufacturing base in India. It was also emphasized that the product is not a substitute for dialysis.
Kibow biotech, launched in 1997, is exclusively carrying out R&D and quality controlling alone at its Pennsylvanian lab. According to Dr Ranganathan, the company was started originally as a drug development company.
The clinical trials for this product was carried out in USA, Canada, Argentina and Nigeria.