The Chennai-based Ramoni Research Foundation (RRF), a company engaged in research and manufacture of ayurvedic products, is looking forward to set up marketing operations in Malaysia in the next two months.
RRF inked an agreement for the purpose with Kulalampur based marketing company, Maste Xchange Pvt Ltd, in October last year. The government of Malaysia has already given its approval to RRF to market the product in that country. The delay for the deal lies in getting export licence from the Drug Controller General of India, for which the company has already approached the DCGI office.
As per the MoU, Maste Xchange will act as the global marketing agency for Ayusrem.
The ayurvedic medicine contains 32 different herbal components and is produced in Dr Milton's Lab in Pondicherry. The company has also bagged the approval of the FDA of Pondicherry to market the product in the union territory. Currently the product is supplied to the government agencies in Pondi.
The contract is for five years term, during which RRF will export its brand product Ayusrem to Malaysia from where it will be distributed to other countries by Maste Xchange, said Dr K Balasubrahmaniam Director, RRF. Ayusrem is the ayurvedic remedy for swine flu and other influenza viruses invented by Dr Balasubrahmaniam's team including Dr Raman of Madras University.
Dr Balasubrahmaniam said the contract deal with Maste Xchange is initially for a five year term but two lakh of Ayusrem capsules can be sent in another 30 to 40 days provided the DCGI office shows green signal. Samples of the product have already reached Malaysia, he said.
The drug, Ayusrem, was first launched in Chennai in September 2009 as a joint venture of Ramoni Research Foundation and Herbal Science Research Centre of the Madras University. According to RRF, it has carried out clinical trials on more than 2000 patients.
Union minister of state for planning and parliamentary affairs, V Narayanasamy, released Ayusrem in Delhi on March 9.