The Centre has granted a 20-year patent to Panacea Biotec Ltd for the preparation of 'Extended Release Nimesulide', a non-steroidal anti-inflammatory drug (NSAID).
"The recent grant of Extended Release Nimesulide (WILLGO) patent has greatly boosted our morale to keep up our efforts in developing novel and innovative drug delivery systems through our R&D efforts," the company's Joint Managing Director Rajesh Jain said.
He added, "WILLGO provides effective management of osteoarthritis by providing continuous relief from chronic joint pain in osteoarthritis patients".
The company had launched its Extended Release Nimesulide under the brand name WILLGO in 2004 in India.
WILLGO provides effective relief from joint pain, stiffness, swelling and tenderness, leading to improved functional mobility in patients of osteoarthritis.
The total NSAID market in India is estimated at Rs 1,034 crore annually and Nimesulide is the largest selling single ingredient NSAID in oral dosage form, having a market of around Rs 126 crore annually.