Mumbai-based Drug maker Sun Pharmaceutical has decided to pump Rs 332 crore in research & development of low-cost version of original drugs, which are sold in domestic as well as in global markets.

According to the Sun Pharmaceutical, the investments will be used to develop active pharmaceutical ingredients, for both domestic and international market.

The company's research team intends to focus on cardiology, psychiatry, neurology and gastroenterology segments. Last year, the pharmaceutical firm had spent Rs 290 crore on its R&D activities.

Apart from the latest development, Sun Pharmaceutical, country's biggest drug company by market capitalization, has decided to file 30 ANDA applications with the US Food and Drug Administration (FDA) before March 2010.

It should be noted that ANDA or abbreviated new drug applications are filed by generic drug makers to sell their low-cost copies of original drugs sold in the US. The company earns over 50% of its revenue from international operations.

Sun Pharma’s consolidated net sales for the year ended March 31, 2009, increased 27 per cent to Rs 4,272 crore, from Rs 3,356 crore in FY08, while its net profit has surged by 22 per cent to Rs 1,817 crore, against Rs 1,486 crore, last year.