Updated on 9 July 2014
The company had also increased research and development spending to Rs 958.28 crore in FY'14
Singapore: In a bid to focus on research in inhalation and on complex formulations, Indian drug major Lupin is setting up two new R&D centres in the US.
The company is said to have increased R&D spending to Rs 958.28 crore in FY'14 as compared to Rs 770.85 crore in the FY'13.
"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's chairman Mr 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 percent of its net sales in R&D and related spends, amounting to Rs 958.30 crore," Mr Gupta added.