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At Lupin, we recognise that the long term vision for our proprietary R & D program rests in our ability to create new products that meet the needs of an ever evolving populace. The essence of the vision for the Novel Drug Discovery and Development (NDDD) programme is to discover, develop, out-license and commercialize novel drugs that address disease areas with significant unmet medical need. More than 10 new targets have been selected based on painstaking analysis of the latest medical research. We believe there are many 'First-in-Class' opportunities available for many of these research programs and all Lupin discoveries are being validated through a panel of global experts in each therapy area.

Having completed the revamp of the NDDD program, Lupin has now created very sophisticated infrastructure, acquired cutting-edge technologies and we have built a brilliant pool of top notch talent that will create significant value going forward. The NDDD program would focus to win in the mid to longer-term by a "Quick-Win, Fail-Fast" cost-efficient development approach, differentiated by establishing a 'Efficacy Within Time' approach, while ensuring safety. Six of our programs have already progressed to a lead-to-clinical candidate phase.

In FY 2011, the group implemented a centralized corporate R&D database (Chem-Bio Office), which is critical for managing the knowledge generated within the NDDD program and is key for decision making with respect to product pipeline progression. Five leading therapeutic area experts of international repute have joined our advisory panel. We also have a strong intellectual property creation and management strategy in place; 22 patents have been filed for global coverage; and there are continuous efforts to enhance our patent portfolio.

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