Dr Reddy’s CETP to enter clinical phase

Hyderabad: Pharma major Dr Reddy’s Laboratories’s anti-diabetic molecule based on cholesteryl ester transfer protein (CETP) will be entering clinical phase next month, according its Chairman, Dr K. Anji Reddy.

In his keynote address at a seminar on ‘Road map to the Indian Drug industry’ organised by the Bulk Drug Manufacturers Association (BMA) India here on Monday, Dr Reddy said major multinational companies such as Pfizer are also focussing on CETP approach for treating type II diabetes.

“We started working on this molecule actually for Pfizer four years ago which did not happen. After lying in hibernation for over four years, it is nearly-ready for going clinical,” Dr Reddy said.

The other major hope of the company, Balaglitazone (for diabetes) is currently undergoing phase III trails in Copenhagen, he said, adding, “This will be the first Indian drug discovered in India”.

The companies in India need to spend more on innovative drug discovery. “Though the expenditure involved appears huge, actually it does not cost you a fortune. Our own R&D expenditure has grown from Rs 6 crore long ago to Rs 80 crore in the last fiscal year,” he said.

Last year, only 19 new molecular entities (NMEs) were filed in the US at a total cost of $30 billion. “This means that the price of one NME is $1.5 billion. This is not a big deal,” he added.