Sucanon is one of only three approved drugs for a class of diabetic medications called ‘Insulin Sensitizers’ in the multi-billion dollar market.
It lowers a patient’s blood sugar by increasing the muscle, fat and liver’s sensitivity to the body’s own naturally produced insulin.
Testing will possibly be completed during the month of February, after which Fero Industries will be able to license and market Sucanon across the Middle East.
Sucanon is currently approved for prescription sale in China and Peru.
It is also approved as an over-the-counter remedy for Type-2 diabetes by regulatory authorities in Mexico which is distributed through an exclusive agreement with Merck.
Fero Industries director and president of Mexican subsidiary Pharmaroth Luis Lopez said expanding the global licensing and distribution reach of Sucanon is a key component of the company’s near term growth strategy.
"The Middle Eastern study will enable us to license Sucanon for sale through an established pharmaceutical distributor in the region and reach a potential 60 million Type-2 diabetes sufferers," Lopez said.