Lupin to set up two new R&D centres in US
Mumbai - Pharma major Lupin said it is in the process of setting up two new R&D centres in the US, focusing on research in inhalation and on complex formulations.
"In keeping with our global strategy of building a highly differentiated generic and speciality business, the company is in the process to setting up two dedicated Centres of Excellence for research in inhalation and complex injectables in Florida and Maryland in the US," Lupin chairman Desh Bandhu Gupta said in its annual report.
The company had also increased research and development spending to Rs 958.28 crore in FY'14 as compared to Rs 770.85 crore in the FY'13.
"Lupin continues to invest heavily in its R&D programmes and in FY 2014, the company invested 8.6 per cent of its net sales in R&D and related spends, amounting to Rs 958.30 crore," Gupta said.
It had invested 8.1 percent of its net sales in R&D and related spends amounting to Rs 770.85 crore in FY'13.
Research is the backbone of our performance. In addition to a robust internal generics research programme, 2013-14 marked significant enhancement of our research capabilities, Lupin Managing Director Nilesh Gupta said.
"We are attracting some of the best talent from the industry. We continue to hit milestones in our novel Drug Discovery & Development program and our joint venture with Yoshindo Inc. Gives us a clear line of sight now to commercialise biosimilars for Japan. All of these investments would emerge as significant growth-drivers for the future," Gupta said.
The company said that in 2013-14, it had stepped up its filings made by the process and formulations research group. FY 2014 also marked making progress in its Novel Drug Discovery and Development (NDDD) and Biotechnology research programmes. (PTI)