Nicholas to hire 400 scientists in 5yrs

Nicholas Piramal India (MPIL) is planning to hire 400 scientists in the next five years, and has doubled its R&D budget this year.

Harinder S Sikka, senior president (corporate affairs) of NPIL, said: "We are looking at hiring more than 400 scientists in the next five years to do research in the therapeutic areas of cardiovascular diseases, cancer and diabetes."

The company has already hired 44 Indian scientists who were working in the US, he added.

Sikka said the company has also increased its R&D budget to 8% of total turnover this year from about 4% last year.

NPIL had inaugurated its state-of-the-art technology research centre, which was developed with an investment of Rs 100 crore,  last December. The 3,00,000 sq.ft research center specialises in three critical areas - development of anti-cancer drug, inflammation inhibitor and drug for type 2 diabetes.