Zenotech to invest over Rs 90 cr in R&D
Generic biopharmaceutical company Zenotech Laboratories is set to invest over Rs 90 crore to strengthen its R&D pipeline.
By Gunjan Pradhan Sinha, TNN |
HYDERABAD: Generic biopharmaceutical company Zenotech Laboratories is set to invest over Rs 90 crore to strengthen its R&D pipeline. “We plan to focus completely on R&D and drug development and pump in over Rs 90 crore in these areas. We plan to raise our abbreviated new drug applications (ANDA) basket from 18 biological drugs to 45,” Zenotech MD Jay Chigurupathi told ET.
Biopharmaceuticals, or biological drugs, are produced using biotechnology. They are produced by means other than direct extraction from a native (non-engineered) biological source. Biological drugs involve changing the basic gene structure to develop antigens to fight against diseases.
An ANDA is an application for a US generic drug approval for an existing licensed medication. Zenotech has already filed for 18 abbreviated ANDAs in the US with Ranbaxy. The company tied up its investment plans after Ranbaxy raised its stake from 7% to 45% in the entity.
Ranbaxy picked up a 22% stake from the promoters shareholding, valued at about Rs 126 crore. It was also given a preferential share allotment of 16%, valued at Rs 88 crore. Ranbaxy’s total fund infusion in Zenotech worked to Rs 214 crore.
Of the 10 new biological entities in the pipeline, at least four products have a market size of over $3 billion globally. The plan is to launch two new drugs every year from this kitty. The company has lined up one product each for immuno-suppressants, neurology and cardiology.
Zenotech is working on three biologicals for rheumatoid arthritis and 11 in the oncology space including.
Biopharmaceuticals, or biological drugs, are produced using biotechnology. They are produced by means other than direct extraction from a native (non-engineered) biological source. Biological drugs involve changing the basic gene structure to develop antigens to fight against diseases.
An ANDA is an application for a US generic drug approval for an existing licensed medication. Zenotech has already filed for 18 abbreviated ANDAs in the US with Ranbaxy. The company tied up its investment plans after Ranbaxy raised its stake from 7% to 45% in the entity.
Ranbaxy picked up a 22% stake from the promoters shareholding, valued at about Rs 126 crore. It was also given a preferential share allotment of 16%, valued at Rs 88 crore. Ranbaxy’s total fund infusion in Zenotech worked to Rs 214 crore.
Of the 10 new biological entities in the pipeline, at least four products have a market size of over $3 billion globally. The plan is to launch two new drugs every year from this kitty. The company has lined up one product each for immuno-suppressants, neurology and cardiology.
Zenotech is working on three biologicals for rheumatoid arthritis and 11 in the oncology space including.
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The oncology market is estimated to grow from $28 billion in 2007 to about $65 billion by 2010. So, the company plans to introduce as many as four products by then to service this market. Start a SIP with as low as ₹500 with ET Money App!
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