Via Pharmaceuticals, Inc, a biotechnology company focused on the development of compounds for the treatment of cardiovascular and metabolic disease, announced the issuance of United States Patent No 7,495,024 entitled 'Phenylalkyl N-Hydroxyureas for Combating Atherosclerotic Plaque', covering the use of VIA's lead compound, VIA-2291, for the treatment of atherosclerosis. This patent is also pending in other major markets worldwide.

The department of pharmaceuticals has drafted 'Vision 2020' document for the pharmaceutical industry, envisaging five lakh jobs in four years, mobilising huge investments and turning the country into one of the top five global innovation hubs.

The excise duty reduction from 8 per cent to 4 per cent, announced by the central government on December 8, 2008 as part of a stimulus package to the industry to tide over the sagging economic scenario, is likely to continue after the end of this financial year as the economic downturn, analysts believe, is yet to be bottomed out.

Union minister of chemicals and fertilisers Ram Vilas Paswan assured the small scale pharmaceutical sector that extending support to them has been an on-going agenda of the present government and it would continue further.