Piramal Life Sciences said it has started phase-II clinical trials of a molecule, aimed at treating diabetes, in Europe and India.
The company initiated the phase-II study of 'P1736-05', an insulin sensitising compound, which is being developed for the treatment of type-2 diabetes in India and Europe, Piramal Life Sciences said in a filing to the Bombay Stock Exchange (BSE).
P1736-05 is likely to provide a safe and effective therapeutic option to type-2 diabetic patients. While, the company has been granted an approval by Indian regulatory authorities, in Europe various EU regulatory authorities have granted an approval for conducting the trials, it added.
According to the World Health Organisation (WHO), Type-2 Diabetes Melitus is an emerging worldwide health crisis with an incidence rate of 300 million by 2025. Type-2 Diabetes Melitus or non-insulin dependent diabetes accounts for about 95% of the diabetic population.
On Monday, Piramal Life Sciences shares ended 5% higher at Rs191 on the BSE, while the benchmark Sensex gained 1.6% to 19,906 points.
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