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Pharma firm Ipca Laboratories Ltd said it has stepped up its R&D expenditure to Rs 100.74 crore in FY'13 from Rs 77.96 crore in the previous year.
The company has stepped up its R&D expenditure from Rs 77.96 crore (3.39% of the turnover) in the previous year to Rs 100.74 crore (3.68% of the turnover) in the year 2012-13, the company said in its annual report.
The Rs 2,797 crore Ipca Labs said it has always considered R&D as crucial for the sustained growth of the company.
The company has R&D centres at Mumbai, Ratlam, Athal and Indore.
Ipca Labs has set up a new centre at its Mumbai facility for expanding its formulations R&D activities.
The company is also in the process of setting up a new research centre at Kandivli in Mumbai for bio-tech research & development activities. It is also in the process of setting-up a new R&D Centre at Vadodara in Gujarat.
Apart from development of new dosage forms and drug delivery systems, improvement in processes and yield as well as cost reduction are also focus areas, Godha said.
The company has expanded its therapeutic coverage with introduction of new formulations, both in the domestic and export markets, especially in the fast growing life style related segments.
Ipca Labs said it has filed as many as 220 patent applications till date as against 213 patent applications filed a year ago in India, USA and other countries. These applications relate to the novel and innovative manufacturing processes for the manufacture of APIs and pharmaceutical formulations.
