Lotus Labs P. Ltd., a clinical research organization (CRO) engaged in clinical trials and bio-studies, has achieved a 300 per cent jump in their turnover as compared to the year ended March 31, 2002. Lotus is likely to end with a turnover of Rs. 700 lakh for the year ending March 31, 2003 as compared to a turnover of Rs. 220 lakh it achieved in its first fully operational year March 31, 2002.
V.V. Raghavan, managing director said that Lotus conducted about 125 studies in the current year as compared to 48 in the first full year of operations last year. This year's projects have variety in the sense that the studies have not been routine studies, but include long duration studies, multiple dose steady state studies which requires more technical expertise. On the analytical front, Lotus has a huge bank of molecules for which methods have been developed and validated.
Raghavan who was upbeat on the company's performance said that equipment had been installed for its laboratory early this year and the commencement of Phase III trials was scheduled for next month. Its tie-up with St. John's National Academy of Health Sciences for conducting Phase I trials would ensure sustained growth in the next few years.