In India, stem cell biz may touch $8 b by 2015 Mumbai, March 21: Stem cells are set to be a major branch of medical treatment, says Cipla Chairman YK Hamied. Regenerative medicine, or cell therapy, is a rapidly emerging area of biomedical research and would be an ideal supplement for existing medical treatments, he added. Cell therapy refers to treatments that are founded on the concept of producing new cells to replace malfunctioning or damaged cells as a vehicle to treat disease and injury. We have a research unit in Malaysia that is conducting research on stem cells, Hamied said while speaking about Stempeutics Research with which it has an alliance. The Manipal Group-promoted Stempeutics is developing stem cell-based medicinal products with facilities in Kuala Lumpur (Malaysia) and Bangalore. We are partners in the Bangalore company, he said. The enormous potential of stem cells in the treatment of chronic and several incurable diseases is boosting the overall stem cells therapy market, he added. Poised to reach an estimated $88.3 billion by 2015, the global stem cells market has been growing at a compounded annual growth rate of 14.8 per cent, driven by the increasing demand of stem cell therapy. … Continue reading
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