Ranbaxy & DST, Govt of India, join hands in the area of New Drug Discovery Research

Ranbaxy Laboratories Ltd has announced that the Company has entered into a collaborative agreement with the Department of Science & Technology (DST), Government of India, New Delhi, in the area of New Drug Discovery Research (NDDR). Under the agreement, DST will provide financial support by way of soft loans to the Company, to undertake NDDR activity.

Commenting on the development, Dr Pradip Bhatnagar, Vice President, NDDR of the Company said, "This public-private partnership will enable research oriented companies like Ranbaxy to explore and develop innovative medicines at affordable costs and thereby combat diseases more effectively".

Two NDDR programs in the therapeutic areas of anti-infective and inflammation, have been identified under the agreement with the Company. The funding by DST will enable the Company to conduct the preclinical toxicity studies/safety studies of the Company's NCEs in these areas and take the molecules in to human Phase-I clinical trials. Favourable results from these studies would facilitate the Company's molecule's progression to market.

The Department of Science and Technology (DST) has implemented a scheme under the aegis of "Drugs and Pharmaceuticals Research Programme" (DPRP) that provides loans to in-house R&D laboratories and Scientific and Industrial Research Organisations (SIROs). DST was established in 1971 with the objective of promoting science and technology activities in the country. Among its many responsibilities, is the objective to support basic and applied research throughout the country and the provision of minimum infrastructure facilities for testing and instrumentation. The DPRP was introduced by DST in the year 1994-95, to promote inter-alia collaborative R&D in the Drugs and Pharmaceuticals Sector.

Source : Equity Bulls

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