Arvind Remedies and SRM's team during the signing of MoU
Arvind Remedies, a leading producer of branded and generic pharmaceutical products has entered into a Memorandum of Understanding (MoU) with SRM University, Kattankulathur, Tamil Nadu to transfer the patent rights to undertake exclusive manufacturing, marketing and commercialization of drugs for Type II Diabetes and Coronary heart disease. These drugs will be first launched in the domestic market, followed by the global market.
On this occassion Dr B Arvind Shah, managing director and CEO, Arvind Remedies, commented, "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 2 diabetes is increasing in every country. In order to curb this disease, we have come up with a new drug that is from a botanical source which ensures zero side effects on the health of the patient. We are expecting this new drug to be available in the market by mid 2015."
He further added, "Coronary heart disease is also a 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 the treatment of coronary heart disease."
The MoU was signed in the presence of honorable Chancellor, SRM University, Dr TR Pachamuthu. Registrar of SRM University Dr N Sethuraman, signed the MoU on behalf of SRM University, while Dr B Arvind Shah, managing director and CEO signed the MoU on behalf of Arvind Remedies, Chennai.