Mangalam Drugs receives $274,800 grant for antimalarial drug research

Mangalam Drugs & Organics Limited has received a grant of US$274,800 from The Medicines for Malaria Venture (MMV) for research and development of pyronaridine, announced today. The grant will support efforts to improve the manufacturing technology and efficiency of pyronaridine, a component of combination therapies for malaria.

Shares of Mangalam Drugs & Organics Limited were trading at ₹142.05 at 12:10 pm today, up ₹9.65 or 7.29%.

MMV, a non-profit organization based in Geneva, focuses on developing innovative treatments against malaria. Mangalam Drugs plans to launch the product by the end of 2024 and position itself as a world-leading producer of anti-malarial drugs.

The company estimates that the international market for this treatment will reach 50 million treatments in the coming years. This development is in line with MMV's goal of advancing new malaria treatments and optimizing combination therapies.

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