Torrent Research plans major scientific team expansion with thrust on intl drug registrations
Torrent Research Centre, the R&D arm of the Ahmedabad-based Torrent Pharmaceuticals, is currently expanding its scientific team as the company has given major thrust to international drug registrations. Anticipating a big boost in the export business in the coming years, the company now wants to concentrate on drug registrations in as many developing countries as possible.
As part of this, the centre would recruit 80 more scientists now and another 20 by the end of 2004. At present, the company has strength of over 190 scientists at its R&D centre.
Along with the new scientific recruitments, it would invest around Rs.15 crore for upgrading its research facility. Talking to Pharmabiz, Bimal Roy, vice president, HRD, Torrent Pharma, said that the company has already recruited 45 odd scientists afresh and is seriously looking for more intellectual talents in the country and abroad. "Since there is a reverse flow Indian scientists from abroad, it has helped us to get a good number of experienced intellectuals in the first phase. Otherwise it is a difficult process to find out ideal people to fit our large requirement," he said.
The company has already invested more than Rs.100 crore in the Research Centre and the fresh fund infusion will take place as part of the new initiative, he added. Of this new investment, a major portion will be used for development of generic products. At present the company has few new generics in the development process. From the new product pipeline, Lamotrigne and Sertraline, are expected to be launched in Europe by 2005. The registration processes of these two products with the European authorities are going on currently. It may be mentioned that the company has recently tied up with 10 companies abroad for marketing these products in the developed markets.
The company is targeting around 25 per cent of its revenue from the overseas operations. "We have been giving more thrust to international operations by making a strong foothold in countries like Germany, Brazil, UK, Russia and other CIS countries. Positively, the company would enter the US market by filling ANDA application with the US FDA by early next year," he added.