InvestorsHub Logo
Followers 0
Posts 26
Boards Moderated 0
Alias Born 03/10/2006

Re: None

Monday, 03/13/2006 9:00:17 PM

Monday, March 13, 2006 9:00:17 PM

Post# of 203990
remember this: Obasanjo to launch locally produced sickle cell drug

President Olusegun Obasanjo will by June launch NIPRISAN (HEMOXIN(TM)), the locally produced drug for sickle cell disorder.

The president will also use the occasion to commission Xechem International Inc. factory in the country in a move seen as a landmark investment in Nigeria. The company owns the exclusive rights to NIPRISAN

The drug NIPRISAN (HEMOXIN(TM), which is at present, undergoing final stage of registration with NAFDAC is a phyto-pharmaceutical drug for the treatment of patients suffering from Sickle Cell Disease (SCD). SCD is an insidious and painful genetic blood disorder often resulting in death at an early age.

Science and Technology Minister, Turner Isoun who disclosed this in Abuja noted that location of the factory in Nigeria would further crash the price of sickle cell drugs in Nigeria.

Isoun stated that Niprisan (HEMOXIN(TM)) was a drug cocktail, with phyto-pharmaceutical composition of four traditional plants extracted in a proprietary process. The licensor of the technology is the National Institute for Pharmaceutical Research and Development (NIPRD) in Abuja, Nigeria.

Nigeria is said to have the highest sickle cell disease population in the world ranging from four to six million representing roughly three to five percent of the country's population.

Isoun spoke at the inaugural meeting of the Ministers’ Council for the National Biotechnology Development Agency (NABDA) where he also called on the government to involve more laboratories for the control and analysis of the bird flu menace.

On the situation of bio technology in Nigeria, he called on the stockholding agencies to ensure that Nigeria benefits from the judicious and safe use of modern biotechnology.

"Biotech is a gold mine and important to this nation. Almost every Nigerian is affected by the operations of biotech. To be able to achieve all these, we will require the concerted political will and a focused leadership drive. It is therefore the collective responsibility of all of us key stakeholders of modern biotechnology to join forces in realizing this vision.

It is my belief that this collective mission will not jeopardize our separate mandates but will promote the effective coordination of our effort towards achieving the same ultimate goal."

To achieve the nation’s targets in biotech, the Director General of the National Biotechnology Development Agency (NABDA), Bamidele Solomon called for the establishment of biotechnology development fund.

The fund, he stressed, could help the nation support competent researches and be ready to tackle problems like the bird flu.

He also disclosed that Nigeria in collaboration with Trinity Biotech of the Republic of Ireland will establish a facility at SHESTCO Abuja for the production of test kits for HIV/AIDS and other diseases like HB, malaria and so on.

He added that the Federal Government has approved the sum of $28 million as counterpart commitment for the project.

He also spoke of Nigeria’s collaboration with Shantha Biotechnics Limited of India for the establishment a facility for the production of Hepatitis B vaccine and other vaccines for related diseases like typhoid, polio, DTP and related ailments.

"Government approved the sum of N10 Million in the 2004 capital budget to support carrying out of a detailed feasibility study and fulfilling other MoU requirement."

XKEM and Nigeria`s government signed deal in my opinion

NEWS ANY TIME



Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.