Both the varsities also proposed to offer joint degree and diploma programs with UGC approval and jointly initiate research activities on reverse pharmacology of herbal products, standardisation of herbal raw materials and processes, herbal monographs, clinical safety and efficacy, AUW Chancellor, P R Krishnakumar and Director, Centre for Complementary Medicine, University of Latvia, Valdis Pirags, told reporters here.
Arya Vaidya Pharmacy Research Foundation here will also be part of the agreement to carry out research activities, which would help the three institutions to explore new avenues for herbal products, Krishnakumar, who is also the Managing Director of the Foundation, said.
The research outcome would be exchanged among the three parties and jointly reported in reputed journals and books, Pirags said.
To a query about the market size for herbal drugs, Krishnakumar said there was no specific data available in this regard.
The sector, which has huge potential, was unexplored so far, he added.