Singapore: Arvind Remedies, a producer of branded and generic pharma products has entered into a Memorandum of Understanding (MoU) with Adesh University, Bhatinda, Punjab. As per the understanding, The company aquires rights for the patents the institute holds. The company will undertake exclusive manufacturing, marketing and commercialisation of drugs for Type II diabetes, depression, irritable bowel syndrome (IBS) and coronary heart disease.

Dr B Arvind Shah, MD and CEO, Arvind Remedies said, "According to the International Diabetes Federation, 382 million people across the world have diabetes, which is expected to rise to 592 million by 2035. The number of people with type II diabetes is increasing in every country. In order to curb this disease, we have come up with a new drug that was derived from a botanical source which ensures zero side effects on the health of the patient. We are expecting this new drug to be available in the markets by mid-2015."

He further added, "Coronary heart disease is also the most common type of heart disease and is killing more than 385,000 people annually. We are happy to announce that we have been successful in developing a new drug, which will help in the treatment of coronary heart disease."

The drugs will be manufactured in the form of tablets and will be launched in the domestic market by 2017, followed by the global market, the company informed.