Torrent Pharma Earmarks Rs 100 Crore For R&D

Ahmedabad, August 26 | Updated: Aug 27 2004, 05:30am hrs
Torrent Pharmaceuticals, the Ahmedabad-based pharma major, has earmarked Rs 100 crores to double its R&D infrastructure and operations over the next 18 months.

Chaitanya Dutt, director (R&D), Torrent Pharmaceuticals, said: "We plan to initiate at least one new project every year and build up a new portfolio that would enable us to take one project to the IND state every two to three years. The enhancement of the research capabilities would result in reducing the time frame that a New Chemical Entity (NCE) takes, from being a lead to entering the clinical development phase".

Around 300 scientists will be recruited to undertake cutting edge discovery research and to generate a broad-based generic pipeline and the entire project will be accomplished in three phases.

The new research centre will be commissioned at its existing R&D premises near Gandhinagar in Gujarat. The existing research centre has a seed capital of over $20 million and around nine per cent of sales (Rs 40-45 crores) is invested annually. It has so far filed 163 patents for NCEs in all major markets worldwide.

Torrent Pharma is also coming up with a formulations manufacturing facility at Baddi (Himachal Pradesh) with an investment of more than Rs 100 crores while the existing API facility at Chhatral in Gujarat will also get an investment of Rs 24 crores to upgrade to US FDA standards.

It has five discovery projects in the areas of cardio-vascular, oral anti-biotic and metabolic disorders. The expansion is being undertaken to tap the regulated markets like US and EU and it will also help build the capability to undertake clinical development and extend research projects.