PRZOOM - /newswire/ -
New Delhi, India, 2009/01/25 - New Delhi based Mayuka Labs Private Limited has received recognition for its in-house research & development facility from the department of scientific and industrial research (DSIR) under the ministry of science and technology, Government of India.
With twenty one scientists working round the clock at it's R&D and Pilot unit at Nacharam, Mayuka Labs has crossed this milestone in its first year of operations. The company has filed two international PCT patents in 2008 and is working on new process technologies on 12 different molecules. The companies customer base ranges from big pharma clients like Boehringer Ingelheim to leading generic companies like Mylan subsidiary Matrix Labs, Dr. Reddy’s and Unimark Remedies.
"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“, said Dr.Chandra Sekhar N K, Chairman and Managing Director, Mayuka Labs.
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.
According to the DSIR website there are only one thousand two hundred and forty seven companies across all industries, including 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.
The Government recognition of its R&D center, apart from recognizing the innovative work being done by Mayuka scientists enables the company to enjoy a weighted tax deduction of 150% on its R &D expenses along with complete exemption of duties on import of materials, equipment and machinery for R&D purpose.
About Mayuka Labs
New Delhi based Mayuka Labs (mayukalabs.com) was established in July, 2007 and set up its Research Labs in October 2007. The company is funded by US investors and offers Custom Research, Custom Synthesis and Custom Manufacturing services to innovator and generic companies across the world. Its R&D and pilot plant is in Nacharam Hyderabad and its API facility is located in Kopargaon, Maharashtra.