Panacea Biotec Launches Generic Diabetes Treatment Drug In India
Drug firm Panacea Biotec Ltd. on Tuesday said it has launched its VilACT brand tablets available in four formulations, for treatment of type 2 diabetes in India.
The four formulations are Vildagliptin 50 milligram, Vildagliptin 50 mg + Metformin HCL 500 mg, Vildagliptin 50 mg + Metformin HCL 850 mg and Vildagliptin 50 mg + Metformin HCL 1,000 mg, Panacea Biotec said in a filing to the BSE.
Vildagliptin product patent in India has expired on Dec. 9, it added.
"Diacar Strategic Business Unit (SBU) has launched ViLACT brand family. This will open up a new segment for accelerated growth of the SBU," Panacea Biotec Managing Director Rajesh Jain said.
Panacea Biotec has engineered its sales and marketing network for pharmaceutical formulations into SBUs, which comprise Oncotrust, Critical Care, Diacar, Procare and Growcare.
As per the AIOCD MAT October 2019 data, the total market size of this molecule and its combination is Rs 969 crore and is growing at the rate of 4 per cent, Panacea Biotec said.
The drug is used for "treatment of uncontrolled Type 2 Diabetes Mellitus patients," it added.
Panacea Biotec stock was trading at Rs 117 on the BSE, up 1 percent as of 2:30 p.m. from its previous close.