Nicholas Piramal to explore market for Ayurvedic drugs

Kochi, Sep 29 (UNI) Pharma major Nicholas Piramal is working on standardisation of Ayurvedic drugs to market them internationally, Company Chairman Ajay G Piramal said today.

Talking to reporters here, Mr Piramal said the company was investing Rs 100 crore every year in its research facility in Mumbai, which was inaugurated by President A P J Abdul Kalam in 2004.

The R&D programme at Mumbai was progressing in the areas of 'New Chemical Entities' (NCE), 'New Drug Delivery System' (NDDS) and Process Development, he said.

Nicholas Piramal India Ltd (NPIL), the flagship company of the Rs 3,500 crore Piramal Enterprises, had filed for its first patent for an anti-cancer molecule NP102 in India and the US.

Stating that the R&D programme was focusing on herb and plant-based compounds, Mr Piramal said among the more interesting research works going on at the Mumbai facility was on an under-sea plant which could be a good source for an anti-infection compound.

A 15-member group was working on ways to standardise Ayurvedic medicines so that these could be marketed abroad.

''Lack of standardisation is a major reason why Ayurvedic medicines cannot be marketed abroad. We are working on the standardisation of Ayurvedic products to market them internationally,'' he added.

Mr Piramal said nearly Rs 1,000 crore of the company's Rs 2,500 crore turnover last year came from contract manufacturing, making it the largest Indian company to which manufacturing was being outsourced by multi-national corporations.

Of the ten biggest pharmaceutical MNCs in the world, Nicholas Piramal was supplying to seven, he said.

Domestically, NPIL was ranked fourth in the pharma industry, he said.

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