Kolkata firm rolls out ayurvedic diabetes drug

Those who dreaded taking insulin injection everyday may take heart.

Dacca Oushadhalay, a century-old company from Kolkata, has come up with an ayurvedic medicine for diabetes.

This is available in the granule form and the company claims patients need not take allopathic medicine after using its product, 'Diagon'.

Sailendra Nath Ghosh, managing director of the company, said the formulation which belonged to the company had been tested and improved with the assistance of Jadhavpur University, one of the leading academic institution. The university has co-produced the herbal medicine for asthma as well.

"We have used their laboratories for research and development. The product has been patented for the domestic market. We are also looking at exports for which application has been filed," Ghosh said.

Even though the product is now being made available in the OTC category, the company will also look at the prescription sale.

"We will talk to doctors and try to convince them about the product," he said.

Dacca Oushadhalay believes the decision to venture into this lucrative therapeutic area will handsomely pay off given that large number of Indian population is diabetic.

Besides the allopathic drug market, the ayurvedic market for diabetes medicine is estimated at Rs 240 crore.

No wonder, Dacca which now produces and markets around 30 drugs and earns Rs 12 crore annually, is looking at raking in Rs 12 crore alone only from 'Diagon' during the first full year of operation. This is expected to rise further in future.

Ghosh said the company was developing a strong pipeline of products for the future. It will work with Jadhavpur University for all its products in future.

Dacca will come out with 12 new labels in next two years apart from revitalising some of its old formulations.

However, it is pretty clear that 'Diagon' will continue to be the primary bread earner for the company which has slipped into oblivion after being closed down during 1990s. Ghosh took it over in 2000 and invested Rs 12 crore in modernisation.