Shreya Life Invited For Hynidase Registration In US

Mumbai, January 27: | Updated: Jan 28 2003, 05:30am hrs
Shreya Life Science has been invited by USFDA for a fast track registration for hynidase. The company is in the process of filing an NDA for hynidase and expects clearance within three-six months from the date of filing. Hynidase is used as a spreading factor which plays a very important role in widening the use of local anaesthesia while operating on eyes. The company claims that this is the first time that an Indian company is invited for fast track registration by USFDA.

Though the market for this product in India is pegged at Rs two crore, analysts estimate its value in the US markets to be around $25 million.

The company along with Madras University has jointly developed Virohep, a product showing promising results in treatment and cure of viral hepatitis B. It also has strong evidence to support that the product is also effective in hepatitis C and HIV, Shreya Life Science director Ajit Bhaskar said.

The product contains active ingredient hepavirin derived from a plant -- phyllanthus amarus. Shreya has an exclusive arrangement with Madras University to market the product worldwide.

The company is also on the lookout of a strategic partner in US. It has forayed into biotech with the setting up of a new company -- Shreya Biotech. This company has acquired a 10 acre site at the biotech park at Hingewadi in Pune and is expected to commence operations in January 2004. Shreya Biotech is a joint venture between Shreya group, Scitech, US and SciGen Inc, Singapore.