Ranbaxy Laboratories Ltd is entering into an agreement with 'Medicines for Malaria Venture' (MMV), Geneva, for the development of Synthetic Peroxide anti-Malarial Drug. Ranbaxy's team of scientists will work in collaboration with Scientists and Researchers from the University of Nebraska Medical Centre, Monash University and the Swiss Tropical Institute in identifying a candidate for development.

At the World Economic Forum Headquarters in Geneva, Roche, a leading healthcare Company, handed over the role of the "pharma partner" to Ranbaxy Laboratories Ltd.

This Synthetic Peroxide Project, voted the "Project of the Year" in 2001 by the Expert Scientific Advisory Committee (ESAC), is one of the principal projects in MMV's current portfolio. Dr Carl Craft, the Chief Scientific Officer of MMV commented that the drug candidates identified so far are showing outstanding anti-malarial activity. Ranbaxy will carry out the development and file an IND (Investigational New Drug), once it has established efficacy and safety in pre-clinical phase. The new molecule should ensure a short treatment period of three days for malaria, and the cost of the product is expected to be much less than the presently being used Artemisinin derivatives, using naturally grown artemisia annua plants.

Dr Rashmi Barbhaiya, President, R&D, Ranbaxy Laboratories Ltd, said, "Ranbaxy's alliance with MMV is a manifestation of its emerging profile as an integrated research player. I am confident that this venture will help the world gain from Ranbaxy's research and development skills, as well as allow us to fully leverage our entire span of research and commercial infrastructure."

Commenting on the development, DS Brar, CEO & Managing Director, Ranbaxy Laboratories Ltd, said, "Collaborative research is one of the identified growth drivers of Ranbaxy. Developing a new medicine for malaria offers Ranbaxy an opportunity to provide better health care options in this largely neglected segment. We are delighted to join hands with MMV in this venture to enhance our social responsibilities cause."