Opto Circuits gets DCGI nod for heart device

Opto Eurocor Healthcare, a subsidiary of Opto Circuits (India), launched Sirolimus Drug Eluting Stent (DES), E-Magic Plus on receipt of Drug Controller General of India (DCGI) licence to sell and market the product in India, Opto Circuits said in a statement.

A stent is a wire metal mesh tube that is used to open a blocked artery during an angioplasty.

"E-Magic Plus has been developed indigenously in India and with the DCGI mark we can market and sell in India. The DCGI approval will also enable E-Magic Plus to be marketed in parts of Far East and parts of Middle East," Opto Circuits (India) Ltd Chairman & Managing Director Vinod Ramnani said.

Sirolimus DES market is estimated to be worth Rs 800 crore in India, he added.

The DES market has two major drug categories: Sirolimus and Paclitaxel. In India, Sirolimus-based angioplasty devices have a more than 90% market share, the company said. "Opto Eurocor Healthcare Ltd will launch E-Magic Plus in the European and Latin-American market after receiving the
necessary approvals," it added.

Shares of Opto Circuits today closed at Rs 129.60 on the BSE, down 0.96% from previous closing.