Granules India Limited (GIL), a vertically integrated fast growing Indian pharmaceutical company headquartered at Hyderabad, is planning for a R&D spend in the range of Rs. 80-90 Cr in H2 FY 2022-23.

Commenting on R&D investment during Granules India Limited Q2 & H1 FY2023 Earnings Conference Call, Sandip Neogi, Chief Financial Officer, Granules India Limited said, "Our R&D spend for the quarter was Rs. 25 crore as compared to Rs. 47 crore in the same quarter in the previous year. It is expected that R&D spending will be in the range of Rs. 40 - Rs.45 crore in each quarter going forward."

K. V. S. Ram Rao, Joint Managing Director & Chief Executive Officer, Granules India said, "In my last quarter remarks, I spoke about Granules’ long-term strategy on science, technology and innovation. I am very happy to confirm that our strategy relating to this is on track. We made decent progress on the enzyme and fermentation technology driven product development and completed proof of concepts for a couple of projects. We are also making good progress on the continuous process development effort and DCDA and we should see the commercialization of this product in the next couple of years."

"The R&D and portfolio management strategies are much more robust now and are based on the initiatives of science and technology and we have also made very good progress in institutionalizing ESG as a way of doing business for us. All these science technology related initiatives are going to increase the R&D spend in the subsequent quarters. I have also communicated in the last quarter that we see huge untapped market potential for our core molecules in Europe, South Africa and AMEA countries. We have now started expanding in these markets. The first set of European launch of some of these molecules through our partners is likely to happen during Q3," added Rao.

Dr. Krishna Prasad Chigurupati, Chairman & Managing Director, Granules India Limited said, "R&D is progressing smoothly and details of the ANDA filings, approvals and DMF fillings are in the investor presentation. While we continue with our current business model and keep trying to grow it, I am greatly excited that our journey towards Granules 2.0 is proceeding smoothly, and we are all excitedly looking forward to the positive outcomes from this."