"The company plans to rope in a renowned consultancy firm to further sharpen its global strategy and benchmark management and operational processes in line with international standards," Gupta told shareholders. The company, Gupta added, will lay great emphasis on research & development so as to create a niche for itself in the international arena. The company has already invested about Rs 48.5 crore in the last two years in R&D and plant up-gradations. The Indian pharmaceutical industry is over $3 billion which is only one per cent of the world market, therefore developing overseas market is a focus for the company.

"The need for building technologies and establishing alliances has become all the more important to strengthen our presence in the developed markets. "Our success in bringing innovation intechnology would be gauged from the 53 patents filed or granted in various countries during the last five years," Gupta said. Lupin Labs is currently working on a range of anti-infectives and cardiovascular products out of which about 25 products have strong entry-barriers to competition which is expected to be introduced in the western markets over the next five years.

Besides, the company is also planning to enter into a string of marketing tie-ups to augment its share in the international markets. "Building such strong alliances is a cornerstone of our strategy and leads to a win-win situation for both partners," Gupta said.

Earlier this year, Lupin initiated a major thrust in Oral Control Release Systems (OCRS), which represents 70 per cent of the new drug delivery system. "Research focus in OCRS, coupled with initiatives in phytomedicines is the short term answer of Lupin to new discovery research, Gupta said adding that the company has initiated a collaborative research programme with the Council ofScientific & Industrial Research (CSIR) for discovery of new chemical entities.