The vice chancellor of Chennai's SRM University revealed that it will be commercializing its US patented herbal diabetic drug in the next six months.
Speaking to IANS, Vice Chancellor M. Ponnavaikko said: "We have incorporated a company called SRM Pharma Ltd. In another six months we may launch the drug. We can get the drug manufactured from a unit in north India."
Last December, the US Patent office granted patent for an herbal formulation for prevention and management of type-2 diabetes mellitus and vascular complications associated with the disease.
A six member team of researchers led by Govind Prasad Dubey and comprising Aruna Agrawal, Nirupama Dubey, Shipra Dubey, Rajesh Dubey and Samamtsan Mercy Deborah invented the drug and secured the patent which was assigned to SRM University, said Ponnavaikko.
Type-II diabetes mellitus is a metabolic disorder that is primarily characterised by insulin resistance, relative insulin deficiency and hyperglycemia, states the background notes on the invention.
It is rapidly increasing in the developed countries and there is also evidence that this pattern will be followed in much of the rest of the parts of the world in coming years.
About 90-95 percent of all North Americans are suffering from type-II diabetes and 20 percent of the population are over the age of 65 years.
According to Ponnavaikko, the university has already filed two more inventions for patent with the US patent office.
"We will shortly file patent application for two more herbal drugs for menopause, cardiovascular and obesity problems," he said.