Ranbaxy Receives Government Loan for Anti-Infective and Inflammation Discovery
Ranbaxy Laboratories entered into a collaborative agreement with the Department of Science & Technology (DST), of the government of India, in the area of new drug discovery research. Under the agreement, DST will provide financial support by way of soft loans to Ranbaxy.
The Drug and Pharmaceutical Research Programme (DPRP) was launched to encourage public-private-partnership R&D projects. The government has expanded this program since 2004 to extend loans at a simple interest of 3% to Pharma Industry R&D projects. About 25 Pharma companies have participated. Dr. Prasad expressed his concern that in spite of the publicity about this program, the response from pharma industry is underwelming.
Two drug discovery programs in the therapeutic areas of anti-infective and inflammation, have been identified under the agreement with Ranbaxy. The funding by DST will enable Ranbaxy to conduct the preclinical toxicity studies/safety studies of the company’s NCEs and take the molecules to Phase I trials.