LPU plans pharmaceutical research commercialisationeducation Updated: Jun 23, 2010 09:22 IST
LPU plans pharmaceutical research commercialisation
Acknowledging the emerging role of academia in commercialising innovation, Lovely Professional University has signed an MOU with Synkrom Healthcare Pvt. Ltd. for its School of Pharmacy in regard to pharmaceutical research commercialisation. The School will provide the company the commercially viable research oriented products to be manufactured as market drugs. In this regard, at first instance, the company will get international patent for ‘Joshanda Lozenges’ researched and developed out of traditional poly-herbal mixture Joshanda by the Pharmaceutical Department of LPU. Under this MOU, from now onwards, LPU and Synkrom are going to constantly strive to create a harmonious environment to manufacture products that are innovative, better than existing ones and affordable in all respects. This is likely to reduce the internal cost of producing new medicines.
Ashok Mittal, Chancellor, LPU, said, “Research commercialisation is the key to progress and development of the nation, so it must be encouraged.
“It was my dream that research work from our university should lead to innovative healthcare products economically benefitting all those sufferers who remain in dire need of these. This MoU has started to materialise this dream into a great humane reality. In-fact, research organisations are becoming increasingly adept at developing own venture arms to finance commercial development of discoveries.”