Arvind Remedies has signed memorandum of understanding (MoU) with Adesh University, Punjab, to transfer the patent right to the company for manufacturing and marketing of formulation product from botanical source for treatment of Type 2, diabetes, coronary heart disease, neuro and anti depression.

These drugs will be manufactured in the form of tablets and will be launched in the domestic market by 2017 followed by the global market.  

Shares of the company gained Rs 0.15, or 0.41%, to settle at Rs 37.10. The total volume of shares traded was 72,973 at the BSE (Monday).