The company on Saturday launched a new product, namely, Res-Q, a poly-herbal, mouth dissolving tablet for respiratory disorders. The drug, developed through a polyherbal drug formulation, the first if its kind, involving the concepts of novel drug delivery system by the university, will be marketed through Asoka Lifescience. Sourav Ray, managing director, Asoka Lifescience, said, the company aimed to spend Rs 50 crore over the next two-three years on research and development of new drugs.
It also planned to tap the capital market through an initial public offering (IPO), in the coming years, for raising about Rs 25 crore. The present turnover of the company through its personal care division was close to Rs 2 crore, he said.