Lotus Labs topline doubles

Lotus Labs, a Bangalore-based Contract Research Organisation, engaged in outsourced clinical trials and bio studies has achieved a 110 per cent increase in turnover, to touch Rs 11.08 crore for the period April-September 2004 when compared to the corresponding period last year.

"The increase in foreign clientele and capacity expansions have contributed to the growth. Overseas business will be the key drivers to growth in future. Major investments in the areas of medical diagnostics and phase III clinical trials are in the offing," Sudhir Pai, managing director of Lotus Labs, said.

Lotus has started Phase I trials in its newly-built facility inside the campus of St John's Hospital in Bangalore. Its new clinical facility in Chennai is functional and submission studies for Europe is being carried out.

The company has completed over eight studies for USFDA submissions and expects inspection by the USFDA early next year. Lotus has been inspected and approved by the French and Brazilian regulatory authorities.

This year, they expect regulatory inspections from WHO and other European countries.

Lotus is also pursuing the NABL accreditation for its Medical Diagnostics Lab which will facilitate business in the area of Phase III clinical trials.

Lotus has invested nearly $4 million in the facility till date. The company is well-equipped to carry out bio-analytical work and has close to 200 beds for conducting clinical activity.

It is planning to increase capacity in Chennai as well as Bangalore by another 50 beds by the end of the year. Lotus has completed over 425 biostudies till date.