World Economic Forum, Geneva, 18 May 2003 – The Medicines for Malaria Venture (MMV) today oversaw the handover of a project for a key new anti-malarial drug from leading research-based healthcare company Roche to Ranbaxy Laboratories Limited, India’s largest pharmaceutical company. Roche has supported and worked with the MMV project to develop this new drug, and it is now hoped that Rambaxy will take it a further stage and bring it to the market with the continued support of MMV.

Roche had been the pharmaceutical partner in the Synthetic Peroxide Project of Medicines for Malaria Venture for three years, before today handing over the role of the “pharma partner” to Ranbaxy. The project being worked on is a new version of Artemisinin, the first new anti-malarial drug to be released in decades. This new version is likely to be cheaper, safer and more effective than any existing artemesin-based drugs.

The original discovery team for this innovative molecule comprised leading scientists from the University of Nebraska Medical Centre, Monash University and the Swiss Tropical Institute with active participation and support of Roche, working on the MMV’s partnership model; this project has now advanced to the point where a new anti-malarial compound can be proposed for further technical and clinical development.

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 J. Carl Craft, the Chief Scientific Officer of MMV commented that the drug candidates identified so far were showing outstanding anti-malarial activity and efficiency. Ranbaxy will carry out the development and file an IND (Investigational New Drug) once it has established efficacy and safety in the preclinical 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 used Artemisinin derivatives, using naturally grown artemisia annua plants.

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

Commenting on the occasion, Dr Christopher Hentschel, CEO, MMV, said, “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 & DELIVER medicines to the disease endemic countries, at affordable cost.”

Dr René Imhof, Head R&D Roche Basel, commented, “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 preclinical 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.”

Dr Rashmi Barbhaiya, President, R&D, Ranbaxy Laboratories, said “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 research and development skills, as well as allow us to fully leverage our entire span of research and commercial infrastructure.”

Commenting on the development, Mr D. S. Brar, CEO & Managing Director, Ranbaxy Laboratories Limited, said, ”Collaborative research is one of the identified growth drivers of Ranbaxy. Developing a new medicine for Malaria affords Ranbaxy an opportunity to provide better health care options in this segment. We are delighted to join hands with MMV in this venture to enhance our social responsibilities cause.”

About Roche
Headquartered in Basel, Switzerland, Roche is one of the world’s leading innovation-driven healthcare groups. Its core businesses are pharmaceuticals and diagnostics. Roche is number one in the global diagnostics market, the leading supplier of pharmaceuticals for cancer and a leader in virology and transplantation. As a supplier of products and services for the prevention, diagnosis and treatment of disease, the Group contributes on a broad range of fronts to improving people’s health and quality of life. Roche employs roughly 62,000 people in 150 countries. The Group has alliances and R&D agreements with numerous partners, including majority ownership interests in Genentech and Chugai.

About Medicines for Malaria Venture (MMV)
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. MMV in its three years of operation is managing a portfolio of over 14 projects in different stages of Drug Research and Development.

MMV receives funding and support from the following organizations: Bill and Melinda Gates Foundation, ExxonMobil Corporation, Global Forum for Health Research, International Federation of Pharmaceutical Manufacturers Associations, Netherlands Minister for Development Cooperation, Rockefeller Foundation, Swiss Agency for Development and Cooperation, United Kingdom Department for International Development, World Bank, World Health Organization, Roll Back Malaria, UNDP/World Bank/WHO Special Programme for Research and Training in Tropical Diseases (TDR), The Wellcome Trust.

About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, manufactures and markets branded generic pharmaceuticals and Active Pharmaceutical Ingredients. Ranbaxy’s continued focus on R&D has resulted in several approvals in developed markets and significant progress in New Drug Discovery Research. Ranbaxy's foray into Novel Drug Delivery Systems has led to proprietary "platform technologies" resulting in a number of products under development. The company is selling its products in over 70 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 25 countries and manufacturing operations in 7 countries.

For more information, please contact:
Paresh Chaudhry
Director Corporate Communications
Ranbaxy Laboratories Ltd
No. 19, Nehru Place
New Delhi – 110019
India
Tel. (Direct):+91 2600 2075
Mobile: +91 98 1011 0146
paresh.chaudhry@ranbaxy.com

Dr P. V. Venugopal
Director International Operations
Medicines for Malaria Venture
International Centre Cointrin
Route de Pré-Bois
CH-1215, Geneva 15
Switzerland
Tel.: +41 (0)22 799 4064
Fax: +41 (0)22 799 4061
venugopalp@mmv.org

Dr Katja Prowald
Head Science Communications
Corporate Communications
F. Hoffmann-La Roche Ltd
Grenzacherstrasse, Bau 21 /17
CH-4070 Basel
Switzerland
Tel.: + 41 (0)61 688 4554
Fax: + 41 (0)61 688 2775
Katja.prowald@roche.com