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May 2, 2001
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Money > Business Headlines > Report May 2, 2001 |
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Ranbaxy in herbal thrust, plans R&D centre at GurgaonBhupesh Bhandari Pharmaceuticals major Ranbaxy Laboratories Ltd is setting up a research & development centre for herbal medicine at Gurgaon near Delhi. This follows the company's decision to get into the over-the-counter products with herbal products. "The laboratory will be in operation in four to six months," Ranbaxy president (research & development) J M Khanna said. Ranbaxy already has its R&D centre at Gurgaon which focuses on new drug discovery and novel drug delivery systems. According to Khanna, the products will be available in the market by 2003. The company has already appointed a vice-president to look after the foray into OTC products. "In about one-and-a-half years, we will have achieved standardisation of products and tackled the various bio-diversity issues that need be addressed," Khanna said. The products developed in this centre will largely be in the form of food supplements and will cater to the world market. "In my estimate, the Indian market for such products is worth $3 billion per annum. The world market could be in the range of $70-80 billion," Khanna added. Ranbaxy has business operations in over 24 countries and manufacturing facilities in six countries. The segments in which the company plans to launch herbal products are: cancer, Alzheimer's, osteoporosis, diabetes and anti-inflammatory (mainly arthritis). According to Khanna, the company is open to making acquisitions in the segment. "We are open to acquiring a brand or a product," he added. Apart from herbal medicine, Ranbaxy is focusing on areas of respiratory, urology, cardiovascular, anti-cancer and anti-infective. Traditionally, anti-infectives have been Ranbaxy's forte. However, due to the slowdown in the market for anti-infectives in the last few months, the company has started moving into other sectors. According to senior company officials, almost 80 per cent of the products launched recently have been in categories other than anti-infectives. Powered by YOU MAY ALSO WANT TO READ:
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