CORRECTED-UPDATE 1-India's Ind-Swift to sell Roche diagnostic kits, shares jump

Fri Jan 13, 2012 8:22am EST

* To distribute heart attack detection kits

* Expects 250 mln rupees sales in the first year

* Ind Swift shares jump more than 9 percent on news

MUMBAI, Jan 13 (Reuters) - Indian drugmaker Ind-Swift Ltd said on Friday it will sell heart attack detection kits developed by Swiss firm Roche Holding AG, sending Ind Swift's shares up more than 9 percent.

The kit will be sold through pathologists and cardiologists across India, said Gopal Munjal, managing director and chief executive, Ind-Swift, adding he expects 250 million rupees in the first year itself.

Every year 27 percent of medical deaths in India are caused by heart-related ailments, Munjal said.

"This is just a beginning of marketing tie-up with Roche and we are looking to add more kits or tools," Munjal said.

He said the retail customers will have to pay less than 2,000 rupees ($39) for the kit.

India's laboratory diagnostics market is estimated at 25 billion rupees ($487 million) and growing 13 percent per annum, said Bhuwnesh Agrawal, managing director and CEO at Roche Diagnostics India, a unit of Roche.

At 2:00 p.m (0830 GMT), the stock was up 6.1 percent to 29.40 rupees in a Mumbai market that was up 1.09 percent.

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