New Delhi, Sept. 17: Dr Reddy’s Laboratories is raising its spending on Research and Development (R&D) from 4.5 per cent of sales in the first quarter of this year to 8 per cent by the end of this financial year.
Last year, the R&D spend was about 4.5 per cent of the sales. The net sales of the company as on the fiscal year ending last year was Rs 1486.77 crore. Net sales during the first quarter of this fiscal ended June was Rs 335.04 crore.
Speaking to reporters here today, Satish Reddy, chief operating officer of Dr Reddy’s Labs, said the company will be increasing its focus on biotechnology-related products in the future especially those related to the treatment of cancer.
Reddy also said the company is working on natural remedies, but made it clear that they were not ‘ayurvedic’ medicines as such. “Basic research is going on in the field of natural remedies, though no immediate product launches are in the pipeline,” he said.
Dr Reddy’s has about 260 scientists focusing exclusively on global research. The company has 23 patents in discovery research and nine molecules in the pipeline.
Dr Reddy’s Atlanta-based lab focuses on early stage research skills like target identification and high throughput screening.
The company has a discovery services unit, Aurigene, which adds automated medicinal chemistry and structure-based drug design to the mix.