Mayuka Labs, the New Delhi based company has received recognition for its in-house R&D facility from the Department of Scientific and Industrial Research (DSIR). The company has received this recognition under the ministry of science and technology, Government of India.
With twenty one scientists working round the clock at its R&D and Pilot unit at Nacharam, Mayuka Labs has crossed this milestone in its first year of operations.
Mayuka Labs has registered two international PCT patents in 2008 and is working on new process technologies on 12 different molecules. The customer base of Mayuka Labs ranges from big pharma clients like Boehringer Ingelheim to leading generic companies like Mylan subsidiary Matrix Labs, Dr. Reddys and Unimark Remedies.
According to Dr.Chandra Sekhar N K, Chairman and Managing Director of Mayuka Labs, "We create value for our customers through innovative new processes. As Thomas Friedman put it, this is a flat and deeply interconnected world and our R&D teams work 24 by 7 to cater to customers across the world. The DSIR recognition for our R&D is a key milestone as we continue to drive efficiencies in the Custom Research, Custom Synthesis and Custom Manufacturing space."
With this accreditation, Mayuka Labs is entitled to receive support from government establishments such as Council of Scientific & Industrial Research (CSIR), Department of Biotechnology (DBT) and the Department of Science and Technology (DST) for its projects.
The DSIR website reveals that there are only one thousand two hundred and forty seven companies across all industries. The industries include research labs set up by multi national companies which are recognized by DSIR in India.
Within the pharma and biotech space, there are less than two hundred. Mayuka Labs is now a part of this select group.
Apart from recognizing the innovative work being done by Mayuka scientists, the Government recognition of its R&D center enables the company to enjoy a weighted tax deduction of 150%. This deduction is applicable on its R &D expenses alongwith complete exemption of duties on import of materials, equipment and machinery for R&D purpose.
|
