According to M Ponnavaiko, vice chancellor of SRM University, the company has so far invested around Rs 50 crore in setting up a research and development (R&D) centre for translational research, from basic research, with around 25 scientists working on various projects.
“We have registered a company in the name of SRM Pharma Industries and our focus would be on manufacturing and marketing herbal pharmaceutical products developed by us in the global market,” he said.
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He added that the company was also planning to set up a manufacturing unit, which would be ready in the next six months to one year. “It will be coming up on the research park adjacent to SRM University,” he said. Once the facility is ready, the manufacturing of all its herbal products would he carried out from it.
While plans are yet to be ready for the manufacturing facility, the estimated investment for this would be Rs 25 crore, he added. The company has not decided on details including the time to launch the first product.
According to the US Patent office, the invention of a group of scientists from SRM “relates to the novel Ayurvedic formulation and to the process thereof for the prevention and management of dyslipidemia, atherosclerosis, obesity, and endothelial dysfunction in type-2 diabetes mellitus cases.
“The preparation of present invention is advantageous if used for the prevention and management of hyperglycemia, abnormal lipids, altered adipokines, elevated inflammatory cytokines, obesity, hyperhomocystinemia, hypertension and atherosclerosis involved with diabetic patients,” according to the United States Patent and Trademark Office.
Further, it has got two more patents related to herbal formulations, one for menopause related issues and another one for obesity related health problems.
However, plans for many of the factors related to the new company are yet to be finalised, he added. The SRM Group, which has a size of around Rs 1,000 crore according to sources close to the group, is present across various business verticals with main focus on the education sector.