Sun Pharmaceutical Industries is planning to set up an 'innovation campus' at Baroda in Gujarat to get a toehold in the research and development (R&D)-based drugs market worldwide.
The proposed campus over a 16-acre site is likely to go on stream in two years in stages. "150 top scientists are expected to be work at the campus once the centre is fully operational," the company said in its annual report for 2001-02.
The company is also a building a new research centre in Mumbai to work on novel drug delivery system (NDDS) projects as well as product dossiers for Europe and the US with the current 40 member team to be strengthened as per project needs. Its innovation will continue and prime focus will be on new chemical entity (NCE) and NDDS.
The company's R&D efforts have already started paying rich dividends. In 2001-02, about 35 formulations reached market based on technology developed in-house. A select number of bulk actives were also scaled up, taking the total to over 75. Bulk actives also earn forex and most of these reach larger overseas users and held build brand-equity for Sun.
The company is launching new products and line extensions that enable Sun to maintain a position of leadership in chronic therapy areas. Projects that offer a quicker payback - formulations, including controlled/speciality bulk actives, peptides are also an important area since they generate revenues that can be reinvested for long term projects, Sun said.
Sun Pharmaceutical has also increased its total expenditure on R&D by 0.4 per cent from Rs 24.9 crore to Rs 33.6 crore in fiscal 2001-02. Its R&D expenditure for fiscal 2002 comprises 4.5 per cent of the total turnover.
