Financial Daily from THE HINDU group of publications
Tuesday, Sep 03, 2002
Research & Development
Lupin to foray into contract research
MUMBAI, Sept. 2
LUPIN Ltd plans to enter into contract research and manufacturing business.
Mr D.B. Gupta, Chairman and Managing Director, Lupin Ltd, said at the company's annual general meeting in Mumbai today that the company is contemplating a foray into contract research shortly.
"We have initiated discussions on contract research as well as manufacturing. But the concept is on the planning stage only,'' he added.
The company is also in talks with multinational companies to license out its Novel Drug Delivery System (NDDS) drugs for further development. "We are looking at various options including marketing of the NDDS drug,'' Mr Gupta said.
"Lupin will launch about 15 products in the domestic market this year. Out of which some will be included in the international market basket as well. We plan to introduce about 5-6 products every year in the US and Europe,'' he said.
On the R&D front, Mr Gupta said that Lupin is participating in the New Millennium Indian Technology Leadership Initiative programme on the discovery of novel anti-tuberculosis compound.
The company's invested five per cent of its sales in research and development (R&D) expenditure in 2001-02.
"In the current financial year, we expect to file five more ANDAs (Abbreviated New Drug Applications) for the advanced markets. Apart from the presence in cephalosporins segment, we have also taken up a basket of cardiovasculars for the international markets,'' Mr Gupta said.
Lupin is currently setting up a new plant for the production of a group of cardiovascular drugs, targeted at the advance markets. The facility is currently under construction in Aurangabad.
The company has registered a growth of 14 per cent in sales during the first five months of the financial year. The company declared a dividend of Rs 5 per share (50 per cent) against Rs 3.5 (35 per cent) in the previous year.
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