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Innoval Medical India, a Chennai-based blood bag manufacturer, is planning to come out with its Initial Public Offer (IPO) shortly. The company has proposed to enter into production of intravenous and blood transfusion sets.

Torrent pharma to set aside 8% of its sales for R&D

Torrent Pharmaceuticals, part of Rs.2,500-crore Torrent group, is set aside 6-8 percent of its sales on R&D. Speaking at the annual general meeting, chairman of Torrent Pharmaceuticals, Mr Sudhir Mehta said that the company would also increase expenditure on discovery to 50 percent and focus on NDDS and NCE and take up contracts and collaborative research.

"In the international market, the company would, in addition to exports to off-patent countries, promote exports to select regulated countries. The company has also taken up modernisation and expansion project at a cost of Rs.55 crore and is planning to build regulatory expertise," he added. On the domestic front, Mr Mehta pointed out that TPL would launch number of new products apart from its existing

product list including Nikoran IV, a cardio offering and Eurepa, an anti-diabetic medicine.

TPL has also filed for patents for three classes of NCEs at national and international level, Mr Mehta added. He further stated that the company would continue to focus on allopathic retail market and enter the higher end of the institutional market. "We would intensify in the current therapeutic areas, speedily introduce new molecules and build brands of certain select molecules. We are also open to acquiring brands and companies for better synergy," he stated while listing out the company’s plans for the coming decade.

Apollo’s cardiac rehabilitation unit to be opened soon

Boston Scientific sees $25m profits from India