Natco Pharma Ltd received an award in Best Invention Category instituted by Exhibition Society of Hyderabad. The company had launched Veenat, a life-saving drug for Chronic Myeloid Leukemia (CML) just two weeks ago. This process invention for the first time in India has resulted in a significant reduction in the cost of treatment of CML, as compared to the only existing capsule of Novartis, brand named Glivec.

While Glivec costs Rs 1,20,000 ($2,500) for 120 capsules at the rate of 4 capsules per day, Veenat is priced at Rs 18,000 for 120 capsules.

The award was presented by State Governor Surjeet Singh Barnala at the 63 rd valedictory function at the All-India Industrial Exhibition on Monday. The award, consisting of a certificate, a plaque and cash of Rs 30,000, was received by the company's vice-president (R&D), Dr A K S Bhujanga Rao

Natco's Imatinib Mesylate capsules, brand named Veenat, is a target specific signal transduction inhibitor and is a life-saving drug for people suffering from CML. The drug is known to be effective in treating CML with quick response and improved survival chances with least side-effects.

According to a company press release, the drug spares the normal cells unlike in the conventional therapy and is tailor-made to the select genetic target. The drug can be used in blast crisis, in accelerate phase and in chronic phase of the disease. The 'magic bullet' as it is called, is approved for use as first line treatment in CML by the US FDA. There has been a good response to the product from the market.