Besides pharmaceutical and clinical development, Ranbaxy will have worldwide rights for the registration and commercialisation of the product. Ranbaxy's team of scientists will work in collaboration with scientists and researchers from the University of Nebraska Medical Centre, Monash University and the Swiss Tropical Institute in identifying a candidate for development.

At the World Economic Forum headquarters in Geneva, Roche, a leading healthcare company, handed over the role of the 'pharma partner' to Ranbaxy. Roche was the earlier pharmaceutical partner with MMV () for three years. Dr René Imhof, head of pharma research at Roche Basel symbolically 'handed over the baton' to Dr Rashmi Barbhaiya, president, R&D, Ranbaxy, in the presence of the members of the board and the leading stakeholders of MMV.

This synthetic peroxide project, voted 'Project of the Year' in 2001 by the Expert Scientific Advisory Committee (ESAC), is one of the principal projects in MMV's current portfolio. Dr Carl Craft, the chief scientific officer of MMV, commented that the drug candidates identified so far are showing outstanding anti-malarial activity and superior PK and ADME properties.

Ranbaxy will carry out the development, and file an IND (Investigational New Drug), once it has established efficacy and safety in the pre-clinical phase. The new molecule should ensure a short treatment period of three days for malaria, and the cost of the product is expected to be much less than the presently being used Artemisinin derivatives, using naturally grown artemisia annua plants.

Ranbaxy's R&D strengths in process chemistry, formulation development and other pre-clinical expertise, strong regulatory submission capabilities and cost-effectiveness were the key considerations for MMV to partner with the company.

Says MMV CEO Dr Christopher Hentschel: "Ranbaxy is the ideal partner to drive this project forward. The company has demonstrated skills and expertise to discover new molecules, and take them through the process of development and also conduct clinical trials to international standards. Their presence in several African countries makes them the right partner for MMV in achieving its mission to discover, develop and deliver medicines to the disease-endemic countries at affordable costs."

Says Imhof: "We are happy to present the selected candidate from the research collaboration, identified by a highly professional international team of scientists. The compound fulfils all requirements made at the beginning of the project and is expected to be superior in efficacy and tolerability in pre-clinical testing. We now hand over our role as a pharma partner to Ranbaxy. They will ensure cost effective further development and delivery of this potential new anti-malaria medicine."

Says Barbhaiya: "Ranbaxy's alliance with MMV is a manifestation of its emerging profile as an integrated research player. I am confident that this venture will help the world gain from Ranbaxy's R&D skills, as well as allow us to fully leverage our entire span of research and commercial infrastructure."

Says Ranbaxy CEO and managing director D S Brar: "Collaborative research is one of the identified growth drivers of Ranbaxy. Developing a new medicine for malaria offers Ranbaxy an opportunity to provide better healthcare options in this largely neglected segment. We are delighted to join hands with MMV in this venture to enhance our social responsibilities cause."

MMV was officially launched on 3 November 1999 as a non-profit foundation dedicated to reducing the burden of malaria in disease endemic countries by discovering new affordable anti-malarials through effective public-private partnership.

  also see : www.mmv.org