09 Jul 2014, BioSpectrum Bureau , BioSpectrum
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.
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's Managing Director Mr Nilesh Gupta further explained.
Commenting on benefits derived as a result of the R&D, he said that FY 14 was a productive year for the pharma research group as efforts bore fruits in the form of 45 approvals in key advanced markets including 22 and one Supplemental NDA in the US, 10 in EU, 6 in Australia, 5 in Canada and 2 in Japan.
"The company also filed 19 ANDAs (of which, 4 are potentially first-to-file) with the US FDA, 4 MAAs with European regulatory authorities, 4 MAAs in Australia and 2 ANDS in Canada. The cumulative ANDA filings with the USFDA stood at 192 with 99 approvals. The company has 30 confirmed first-to-files including 15 exclusive ones," he said.