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Significant focus on research and development efforts.

Our answer phentermine viagra xanax R&D efforts are integral to answer phentermine viagra xanax our business and we devote significant resources towards this function. We believe in the importance of developing our R&D facilities to maintain our competitiveness.

We also recognize the importance of maintaining a workforce of highly qualified R&D employees. We have a team of over 600 research professionals involved in R&D activities at our various facilities. Our research team focuses primarily on the following areas: •API development; •pharmaceutical formulation development including novel formulations and NDDS; and •biosimilars development.

We believe that focused R&D is a prerequisite for long-term growth and hence we have steadily increased our R&D expenditure. We spent ' 1,358.5 million (4.9% of revenue answer phentermine viagra xanax from operations) towards R&D in fiscal 2012 compared to ' 1,183.8 million (6.0% of revenue from operations), ' 1,007.3 million (6.2% of revenue from operations) and ' 588.8 million (5.2% of revenue from operations) in the fiscal years 2011, 2010 and 2009, respectively. Our expenditure on R&D for the nine month period ended December 31, 2012 was ' 1,126.6 million (4.1% of revenue from operations). Our Promoters have played a key role in developing our business and we benefit from their significant experience in the pharmaceuticals business. We also have a qualified senior management team with experience in the domestic and international pharmaceutical industries, including in the areas of R&D, regulatory affairs, manufacturing, quality control, sales, marketing and finance. We believe that the healthcare domain knowledge and experience of answer phentermine viagra xanax our Promoters and our management team provides us with a significant competitive advantage as we seek to grow in our existing markets and enter answer phentermine viagra xanax new geographies. STRATEGIES We intend to strengthen our position across identified therapy areas in India and further expand our operations internationally in regulated and semi-regulated markets in order to achieve long-term sustainable growth and increase shareholder value. Our principal strategies and initiatives to achieve these objectives are set out below. We have increased our market share from 0.1% in 1991 (Source: IMS Health Information and Consulting Services India Private Limited.) to 2.52% in December 2012 and are currently ranked as the 12th largest pharmaceutical company in India in terms of market share, based on domestic sales of formulations. (Source: IMS Health Information and Consulting Services India Private Limited). Our broad strategic initiatives for increasing our market share in India include: •focusing on growing organically in therapy areas in which we are currently present and introducing new therapies to complement our existing product basket; •increasing our prescriber base and generating higher prescription support from doctors in key medical specialties; •expanding our presence within newer areas such as osteoporosis, respiratory systems and hormones; •entering the over-the-counter pharmaceutical formulation market; •increasing our penetration in rural markets; •expanding into areas such as medical devices and drag delivery systems; and •focusing on the creation of mega brands.



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