Wockhardt earmarks Rs 125 cr for R&D

Wockhardt is increasing its research and development (R&D) spend to around Rs 125 crore in the fiscal starting April 2005.

Habil Khorakiwala, MD of Wockhardt, said: "We are increasing our R&D spend, and will raise it to around 8.5-9% of total sales this year banking on the new patent rules, which are expected to be beneficial for the country."

The company would spend the amount for new drug discoveries, novel drug delivery systems and reverse engineering processes even as a specific portion would be earmarked for biotechnology and biopharmaceuticals, he added.

The company has spent around Rs 85 crore for R&D on total sales of Rs 288 crore in fiscal 2004-05.

The R&D would also include innovative process development for bulk actives using chemical, fermentation and peptide synthesis technologies, development of new nutrition products, clinical research including pharmacology, toxicology, pharmacokinetics and pharmacodynamics, agrochemicals and bio-agro products, Khorakiwala said.

"These multi-disciplinary and multi-technology R&D programmes will help Wockhardt gain a competitive advantage in the new patent regime," he added.

Wockhardt is aiming at providing new products in India and technology-based pharmaceutical bulk active and dosage forms in the US, European and other markets.