Indoco Remedies, the Mumbai-based pharma company, has worked out investment plans in R&D activities and also for its plant at Baddi in Himachal Pradesh. The company is consolidating its R&D activities by shifting its entire activities at one place in Navi Mumbai.

Sundeep Bambolkar, Director, Finance and Operation, told Pharmabiz, "We are expanding our research and development centre at Navi Mumbai. We started process development for the APIs and now we are shifting our formulation R&D to analytical method of the formulation. We are also shifting our regulatory affairs department to Navi Mumbai. We will incur a total cost of around Rs 4 to 5 crore. Currently, around 50 products are under development and we have strong product pipeline for the future."

The R&D centre and the kilo lab facility are expected to boost the API synthesis and development efforts, which are primarily directed to cater to requirements of regulated markets. The kilo lab facility is expected to add to revenues in the short run, apart from aiding the API development efforts. Currently around 70 scientists are working in R&D centre.

"We are also expanding our formulation plant at Baddi, where we have already invested Rs 33 crore. We are now investing around Rs 6-7 crore for building new liquid activity in the same plant. Our new department will start operation before Feb 2007", he further added. The Baddi plant has manufacturing capacity for producing tablets, ointments and medicated toothpaste.

Speaking to Pharmabiz, Suresh Kare, Chairman and Managing Director, said, "We are growing at the rate of 10 times during every 10 years. This year we are expecting our sales revenue should touch to Rs 380-400 crore. We will achieve the growth rate of around 20 25 per cent per annum".