09/28 08:16 Indian anti-impotence drug to hit market by mid-99
AHMEDABAD, India, Sept 28 (Reuters) - An Indian variant of U.S. drug
maker Pfizer Inc's <PFE.N> anti-impotence drug Viagra will hit the market by
mid-1999, a senior official from the drug's developers, Cadila Health Care Ltd,
said on Monday. "We have already synthesised the chemical compound
sildenafil citrate, which has been branded as Viagra by Pfizer," Cadila president
Ganesh Nayak told Reuters at the firm's headquarters in the western city of
Ahmedabad.
Nayak said Cadila was awaiting permission from the Drug Controller of India
to carry out clinical trials. "We need only four months to do clinical testing
before marketing it," he said.
Nayak said the drug had been named Penigra by Cadila, and will cost around
$2.0 per capsule in the Indian market.
"The chemical compound can be manufactured and marketed in India because
the patent laws are not applicable," he said.
Nayak said that the World Trade Organisation's agreement on global patents
for pharmaceuticals will come into force in India only in 2005.
He said at least three other companies in India had developed sildenafil citrate
and were ready to start clinical trials.
The firm also plans to export sildenafil citrate, which is used to treat heart
ailments too.
Cadila, part of the privately-held Zydus group, registered a turnover of 3.5
billion rupees ($82.3 milllion) in 1997/98 (April-March), up 27 percent from
the previous year.
Analysts estimate the global market for Viagra and its clones to be well over
$5.0 billion.
Market researcher IMS Health said earlier this year that Viagra had broken all
records for a new drug and was expected to notch up sales of at least $1.0
billion in its first year on the market. ($1 = 42.5 rupees) |
