Ranbaxy to get funds for R&D from govt unit

Ranbaxy Laboratories has entered into a collaborative agreement with the Department of Science & Technology (DST) in the area of new drug discovery research (NDDR).

According to a release issued by Ranbaxy to the BSE today, DST will provide financial support, by way of soft loans, to the company to undertake NDDR activity.

Dr Pradip Bhatnagar, vice president (NDDR) of Ranbax said: "This public-private partnership will enable research-oriented companies like Ranbaxy to explore and develop innovative medicines at affordable costs and thereby combat diseases more effectively."

Two NDDR programmes in the therapeutic areas of anti-infective and inflammation have been identified under the agreement. "The funding by DST will enable the company to conduct the preclinical toxicity studies/safety studies of the company's new chemical entities (NCEs) in these areas and take the molecules to human Phase-I clinical trials. Favourable results from the  studies would facilitate the company's molecule's progression to market," the release added.