Siris plans to launch ayurvedic cancer therapy drug

The South India Research Institute (Siris), the flagship company of the Rs 600-crore Siris Group, is slated to introduce an ayurvedic cancer therapy drug in the market apart from herbal formulations for treating diabetes, arthritis and jaundice and for stimulating milk lactation.

The Siris Group "� which includes Sudarshan Drugs and Intermediaries Limited, Siricellars Private Limited, Siris Agro Limited, Continental Wines Private Limited, Sudarshan International Limited and 10 other companies "� had recorded a turnover of Rs 600 crore during 2003-04.

The bulk of this turnover came from the pharmaceutical division, which also manufactures lead brands worth over Rs 100 crore for prominent pharmaceutical firms such as Novartis, Bayer, Geoffery Manners, Wyeth Lederle, Merind, TTK and Cipla. Its herbal division earned Rs 55 crore through the export of extractions to the US, Japan, France, Germany and England during 2003-04.

Striking a personal chord, Siris chairman G S Raju, a pioneer in the state's pharmaceutical industry, told Business Standard that some years ago his sister suffered from abdominal cancer.

"Native medical luminaries and leading consultants in the US said she would live for only two months. As a last resort, I turned to ayurveda and she is alive even today. This made me devote my total attention to ayurveda."

The firm's research and development wing, after years of dedicated work, has developed six unique ayurvedic formulations, which are in the final stages of trials. The firm has engaged a number of expert doctors for the purpose, he said.

Raju said, "My ayurvedic formula for diabetes activates pancreas while treatment by allopathic drugs is leading to side-effects. The company, which had exclusively supplied pethedrine to doctors directly, stopped doing so unable to counter the menace of quacks."

He said, "Though we are focusing on the ayurvedic segment, we will continue to market our 40 allopathy preparations with the same old tempo."

Some of its allopathic drugs, 'Vitapepsin', 'Siricodin', 'Histacort' and 'Ulsedin' are household names in the coastal districts. The company is also marketing its products in Kashmir.

Raju, who is a fellow of the American Council of Pharmaceutical Education, said the group received a setback in the basic chemicals segment when the Chinese started dumping their products in the Indian market, at one-third the prevailing domestic prices.

The setback had been overcome and that segment was also on the recovery path. The group runs a solvent extracts unit at Kakinada and an affiliated refinery unit at Yanam. The group also runs Asia's biggest shrimp hatchery unit in 300 acres at Kakinada with a 450 million shrimp seed capacity.