Piramal Healthcare has received the European CE mark approval for its innovative bio-orthopaedic product for cartilage repair, BSTCarGel. European regulatory approval enables the company to commercialize BST-CarGel in all of the countries in the European Union. Furthermore, this approval will serve as the basis to obtain commercial authorization for the product in other geographic areas of the world such as the Middle East, the Asia Pacific region, South America and other countries including India.
BST-CarGel, a EU class III medical device, is a novel natural polysaccharide based liquid scaffold which, combined with the patient’s whole blood, is then implanted into a debrided cartilage lesion prepared with bone marrow access. As demonstrated in a controlled clinical trial, this procedure results in a superior cartilage repair volume and quality compared to the standard of care treatment with the goal of offering a more durable longer term treatment.
Piramal Healthcare, formerly known as Nicholas Piramal, is one of the largest pharmaceutical companies in India. Being part of Piramal Group, its healthcare division contributes 50% to group’s revenue. Besides healthcare, the Piramal Group has business interests in areas of glass manufacturing, retail and real estate.
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