Schering Plough Corporation is seriously considering to enter into clinical research in India. The company has immediate plans to conduct clinical trials for 7-8 new molecules in the areas like CVS, oncology, hepatitis, respiratory diseases and anti-infectives.
Speaking to Pharmabiz.com, RA Shah, Chairman, Fulford (India) Ltd, said the move was a way to cut the ever-rising costs of R&D. Normally a company incurs about 60 per cent of its R&D expenditure in clinical trials, he said.
Fulford is Schering Plough's subsidiary in India. Shah was addressing the Fulford's shareholders at the company's annual general meeting in Mumbai.
Sales of the company in the first quarter of the current year were hit on account of the VAT imbroglio, said Shah. However, the losses encountered by it will be made up during the second, third and fourth quarters of the year, he said. There will be a slight variation in the prices of the company's products on account of VAT.
Fulford achieved a profit before tax of Rs. 18.74 crore in 2004 as against Rs 5.92 crore in the previous year. Gross sales for the year 2004 have grown by about 1 per cent to Rs 131.80 crore as against Rs 130.50 crore for the previous year.
Shah appreciated the smooth passage of the patent bill. According to him, out of the 9,000 applications filed in the mail box, only 275 are applications for NCEs. The balance would be applications for new uses, he opined.