Ipca Labs signs pact with Medicines for Malaria Venture

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.