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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (3926)	3/25/1999 9:30:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Nicholas Piramal isolates anti-cancer molecule; to file global patent application (Nicholas Piramal a good investment?I think so I have a small position in the company.) nicholaspiramal.com Rajarshi Roy & Gauri Kamath in Mumbai Nicholas Piramal India Ltd, the pharmaceutical major, has identified an anti-cancer molecule at its research centre for which it wants to file a global patent application. The molecule is in the anti-cancer therapeutic segment, a focus area of the company. This is the second such molecule isolated by a domestic company, the first being at Dr Reddy's Research Foundation. Dr Reddy's Foundation recently filed for an investigational new drug application for its molecule with the Drugs Controller General of India. Nicholas Piramal's molecule has been developed by scientists at the company's research centre in Mulund acquired for around Rs 20 crore from German pharma major Hoechst Marion Roussel last year. The company had inherited many of the centre's scientists -- numbering around 80 -- as well. At the time of acquisition, the centre had developed compounds in anti-infectives, spasmolytics, amoebiosis, malaria etc. The molecule falls in the class of kinase. Kinase usually acts as a catalyst giving rise to a reaction that may arrest the excess of cell multiplication in the body. Nicholas Piramal managing director Francis Pinto said the company would focus on research in the therapeutic area of cardiovascular also. Analysts said both anti-cancer and cardiovascular are high-growth areas within the country as well as globally. The anti-cancer market in India, according to ORG figures, is worth around Rs 10 crore. However, the figures may be even twice that, as ORG do not consider institutional sales which account for a chunk of anti-cancer product sales. Nicholas Piramal is preparing the ground for an eventual listing on the Nasdaq. The group's turnover is expected to touch Rs 1,000 crore this financial year. At the end of nine months the turnover was Rs 752 crore of which Rs 269 crore was from the pharma division. The company has grown through a series of strategic joint ventures and acquisitions. Its pharma business spans over both ethical and the fast-growing over-the-counter product markets. Nicholas Piramal is also in the process of strengthening its nutraceuticals business. (Source:Business Standard)