Medicine patent may fetch Pokhara University Rs 10m

Pokhara, November 22:

A private pharmaceutical company has expressed interest to buy the patent rights of a medicine invented by the students of Pokhara University.

The Butwal-based Quest Pharmaceuticals has offered to buy formula along with the patent rights of an ointment developed by the post-graduate students of the university to cure cloth rashes in newborn babies.

Dean of the University Dr Purushottam Basnet said the company has sought to buy the formula for the cream developed by the students from a mixture of of turmeric powder and Vaseline.

“We have proposed the company to build a building worth Rs 10 million for us, instead of paying the cash,” Dr Basnet said.

If the company accepts the proposal, it will mean that the patent for the formula will cost Rs 10 million. The University said the cream worked perfectly when it was tested on 180 babies in Pokhara and adjoining areas.