Corona Remedies Pvt Ltd, the Ahmedabad-based company engaged in development and marketing of formulation products, is launching a new hepatoprotective anti-cold formulation for allergic rhinitis and common cold which can provide pain relief without toxicity to the liver.
The new product, the first formulation developed by the company in its in-house research and development (R&D) lab, is planned to be launched in the third week of January. The product, Respicure, is targeting allergic rhinitis patients, for whom the conventional anti cold drugs create hepatic toxicity.
The ingredient racemethionine, commonly indicated for the treatment of dermatitis and ulcerations and as a chelating agent for heavy metals, subside hepatotoxicity and allergic patients can use for longer duration, stated by Dr Sanjay Agrawal, head of medical department, Corona Remedies.
"Usually, common anti cold products with their anti inflammatory nature can affect the liver function of allergic rhinitis patients and may develop jaundice by long term use. Our new formulation with racemethionine avoids such side effects. The product has received approval from the DCGI and we are expecting process patent any time within a month," he informed. The domestic market for anti cold drugs is recorded at Rs 500 crore with a market growth of nearly 15 per cent per annum.
The company is also developing another formulation in the analgesic segment for migraine. The product is in a late stage of development and plans are to file process patent application within a fortnight. The company is pursuing R&D efforts for development of new formulations to cater the need of the current market, added Agarwal.
The Rs 25 crore company is also expecting the government recognition of its R&D laboratory for reimbursement of R&D investments to further expand the in-house research activities. The plans are to invest more in R&D and to increase the market presence with new products. The company is targeting to reach Rs 40 crore turnover in the current financial year.