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Our Bureau

New Delhi, Dec 3 Nicholas Piramal is to start phase II trials of its New Chemical Entity in the oncology therapeutic area, CDK-4 in January next year.

The US trials for the same may start in the second quarter of the coming year, according to Mr Ajay G. Piramal, Chairman, Nicholas Piramal. “We have just completed phase I trials for our lead molecule CDK-4 in India and Canada,” said Mr Piramal.

The company has received board approval for its plans to hive off it research and development unit, and is currently completing the legal formalities for the same. “We expect to complete the process by February, and have the company listed sometime between April-June quarter,” said Mr Piramal on the sidelines of the India Economic Summit 2007.

The new business would have eight NCEs in the pipeline in therapeutic areas such as oncology, inflammation, metabolic disorder, and anti-infectives.

The contract research and manufacturing (CRAM) business contributed Rs 1,500 crore, or 45 per cent to the total revenues of the company this year.

“Our UK manufacturing unit (Morpeth) has turned around, and we expect the emerging pressures on large global pharmaceutical companies to translate into an increase in our business for CRAMS manufacturing,” said Mr Piramal.

He, however, expressed concern over the rise of the rupee and its effect on the business. “Our CRAM business is growing at 25 per cent. We have managed to hedge and improve operational efficacies and changed from dollar to euro in Europe, and managed this year. However, my concern is that if the 15 per cent rupee growth continues, it would have an impact on our bottomline,” said Mr Piramal.

He added that talk of slowdown of the US economy could further affect their pricing.

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