Shreya Life Sciences eyes Rs 200 cr sales in diabetes segment

Kolkata, Nov 17 (UNI) Shreya Life Sciences, the Indian arm of Shreya Group, is eyeing a sales figure of Rs 200 crore in the country's diabetes care market during the current fiscal with the launch of its recombinant DNA human insulin buccal spray under the brand name ''Oral Recosulin''.

Informing this to newspersons here today, Shreya Life Sciences Director (Domestic Business) Ram Shelat said the company did a business of Rs 165 crore in the segment in India last fiscal and notched up a market share of five per cent in the country.

The firm was targeting a market share of 10 per cent in the country's diabetes segment, Mr Shelat said adding the southern part of India accounted for the firm's 40 per cent business.

The contribution of West Bengal towards the firm's turnover was 15 per cent last year, he informed.

Elaborating on the launch, he said the ''Ultra Rapid Prandial Glucose Regulator'' was a buccal insulin spray for the treatment of Type I and Type II diabetes, which was based on the technology developed by the company's US collaborator, Generex Biotechnology.

Generex Biotechnology CEO Anna E Gluskin said the product was the only alternative to injection, adding it was earlier launched in Ecuador in South America .

Informing that the Shreya Life Sciences was involved in the marketing of the oral insulin spray, which was manufactured in the UK and US, Ms Gluskin said the company was looking at entering similar tie-ups in other countries.

She said applications were obtained from various firms in the countries like UAE, Cyria, Jordon, Lebanon, Morocco, Tunisia and Egypt, expressing hope that all the nations would be covered within a time span of eight to 14 months.

The CEO said she was betting big in the Indian market as she felt that the country was able to shield itself from the financial crisis worldwide to a larger extent.

Taking a cue from Ms Gluskin, Mr Shelat said the size of the diabetes care sector in India was assessed at Rs 1,722.7 crore, registering a growth rate of 20.6 per cent.

Out of this, the market of human insulin, a life-saving drug used in the treatment and control of the ailment, stood at Rs 517.9 crore, reflecting a growth rate of 23.9 per cent.

On the other hand, the oral anti diabetic market stood at Rs 1,204.7 crore and it was growing at a rate of 19.2 per cent.

The World Health Organiasation(WHO) has estimated that the number of diabetic patients in the country would rise to 57.2 million by 2025 and which was 19.4 million in 1995.

Mr Shelat hoped that the company would have a customer base of around one million in the next four-five years under their newly launched ''Oral Recosulin'' in the country, saying India was the home to largest diabetic population in the globe.

'' Now, needle phobia can no more be a factor deterrent to the diabetic, when it comes to availing the insulin therapy.

Oral Recosulin is a simple solution for a worldwide problem as diabetics would prefer buccal delivery of the drug since it is pain free. The medication is delivered via the proprietary Rapid Mist device into the mouth without any disposition into the lungs,'' Mr Shelat explained.

According to him, the price of the product was yet to be fixed in the country as it required the necessary National Pharmaceutical Pricing Authority(NPPA) nod and they had already applied in this regard.

He estimated that the price tag associated with the product would hover around Rs 2,200 per canister, which was capable of delivering at least 40 puffs to a diabetic.

UNI SB ADG KK ND1712