East India Pharma to launch drugs

East India Pharmaceutical Works Ltd will market two new drugs, namely Prostalyn and Glucovedic, for the treatment of prostrate gland and diabetes respectively.

While Prostalyn has been developed and patented by the Council of Scientific and Industrial Research (CSIR), Glucovedic has been patented by a US-based company called Ayurvedic Life Ltd. East India Pharmaceuticals has helped both the organistions in conducting research for developing the drugs.

The two medicines were formally launched on Tuesday in presence of renowned scientist R A Mashelkar, former director general, CSIR, at the Ramakrishna Institute of Culture in Kolkata.

Speaking on the occasion, Mashelkar said the liberalisation of Indian economy paved way research in the field of medicine in India. Earlier, it took more than 15 years and $ 1.5 billion to develop a new drug, now a new drug could be developed in five years.

"We must create alternative path and conceptual breakthroughs for creating new products," he said.

The future is bright for India, as it has three D's in its favour, viz, democracy, demography and diversity.

"All nations must have innovation, passion and compassion. We must create compassionate societies, looking into the problems of the poor while creating a new value system for solving the problems of the poor," he said.