July 15, 2013 / 18:22 IST
Ranbaxy Laboratories Ltd. (RLL, NSE: RANBAXY, BSE: 500359), India's largest pharmaceutical company, today announced that it has been conferred with the Innovation Excellence Platinum Award at the ASSOCHAM Innovation Awards 2013 in the Science & Technology category for its new anti-malaria drug, SynriamTM. The prestigious award was given by Hon’ble Minister for Science & Technology and Earth Sciences, Shri. Jaipal Reddy.
The objective of the ASSOCHAM Innovation Awards is to identify and bring forward innovative organisations in India who through their innovative actions have launched breakthrough changes and can become role models for others to emulate.Also read: Give Ranbaxy time to fix issues; bullish on Lupin: AntiqueIndia's First New Drug, SynriamTM, was launched by Ranbaxy last year on April 25th (World Malaria Day).The drug is used for the treatment of plasmodium falciparum malaria, in adults. Ranbaxy is working to make this new treatment available in African, Asian and South American markets where Malaria is rampant. The company plans to submit New Drug Applications for market authorisation of Synriam™ in various African countriesin 2013. The company also has plans to extend the benefits of SynriamTM to children in the malaria endemic zones of Asia and Africa. As per IMS data, over 2 million SynriamTM pills have been sold since its launch and over 700,000 patients have been treated in India. SynriamTM is the new ray of hope to the millions likely to get affected by malaria. The drug is efficacious and has the advantage of “compliance and convenience”. The course is one tablet a day for three days and costs Rs 130. Unlike artemisinin-based drugs, it has a synthetic source, the production of which can be scaled up whenever required and a consistent supply of the drug can be maintained at low cost. The drug is also independent of dietary restrictions for fatty foods or milk, as is the case with other anti-malarial therapies. Malaria is a major public health problem in more than 90 countries that host about 40% of the global population. The deadly disease is estimated to cause up to 250 million new infections worldwide every year. Last year, SynriamTM won the Golden Peacock Innovative Product/Service Award. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
