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Nicholas Piramal bets on research

Our Bureau

MUMBAI, July 5

NICHOLAS Piramal India Ltd (NPIL) has five molecules (new chemical entities) in its research pipeline, which would be in the development stage in the next two years.

The compounds are two in cardiovascular, one each in diabetes, oncology and antifungal, said Mr Ajay Piramal, Chairman, Nicholas Piramal India.

Mr Piramal was speaking to shareholders at the company's annual general meeting here on Thursday. Mr Piramal said that the company had filed five patents last year. ``Research is a long-term effort and we expect that our research centre, Quest Institute, will be successful in the endeavour.''

The institute has tied up with the Centre for Biotechnology for basic research in several fields and genomics. ``We have two laboratories located in Mumbai and Delhi with 10 scientists working on the genomic research,'' Mr Piramal said.

On the declining prices of Vitamin A and its impact on the company, he said that the company had already applied for anti-dumping duty to be levied for some of the premixes ADBK and AD-3. The sales of Vitamin A contribute about 13 per cent to the overall turnover of the company.

In the past three years, international prices of Vitamin A declined to $63 from $90, Mr Piramal said. The company would be employing cost-cutting measures to ensure competitive pricing, he added.

The company has dissolved its joint venture company with Reckitt Benckiser, Reckitt Piramal Ltd and will, however, continue to market Reckitt Benckiser's brands in India under a strategic alliance.