Singapore: Indian pharma company Cadila Healthcare that operates under the aegis of Zydus Group, has launched its patented new drug for treatment of diabetes, Lipaglyn that it hopes will become a blockbuster drug with more than $1 billion in global sales in a few years.

Mr Pankaj Patel, chairman and managing director, Zydus Cadila, said in a statement, "It has always been our dream to take a molecule right from the concept stage up to its launch. Today, we have realized this dream. It is an important breakthrough."

The Indian Controller General of India (DGCI) had approved the drug for sale in the country in June and Cadila had stated then that Lipaglyn is the world's first drug for treating diabetic dyslipidemia and combines lipid and glucose lowering effects in a single molecule.

The company is said to have spent $250 million in the development of this Lipaglyn over a period of 12 years.

The company has recommended 4 mg tablet for a patient once a day in its statement and added that it is filing applications in developed markets like the US and Europe, after which it will tie up with other companies for marketing the drug.