Drug firm Ipca Laboratories on Friday said it has entered into an agreement with Medicines for Malaria Venture to jointly develop a novel antimalarial co-formulation named 'Atoguanil'.
Atoguanil contains the active pharmaceutical ingredients atovaquone and proguanil, Ipca Laboratories said in a BSE filing.
"Today, the manufacturing cost of atovaquone is believed to pose a barrier to widespread use of atovaquone-proguanil based products in malaria-endemic countries," it added.
Atoguanil has the potential to provide a lower cost alternative, making such products more accessible to people living in malaria-endemic countries for prophylaxis, Ipca Laboratories said.
Shares of Ipca Laboratories closed at Rs 1,122 per scrip on the BSE, down 1.48 per cent over previous close.
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