Arvind Remedies Ltd, a generic pharmaceutical firm based in Chennai, has entered into a Memorandum of Understanding (MoU) with SRM University, in Tamil Nadu, to conduct research, manufacturing and marketing of drugs for Type II diabetes and coronary heart disease.
The company would now tie up with Department of Science and Technology to conduct Phase III clinical trials and is expecting to launch the tablets mid of 2015, first in the domestic market which will be followed by the global market.
As per the agreement, the company would pay royalty to the university once the drugs are developed, according to B Arvind Shah, MD and CEO of Arvind Remedies Ltd.
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