Ipca managing director Premchand Godha told shareholders at the annual general meeting on Thursday that an effective cost rationalisation policy especially on the bulk drugs front has yielded good results with the bottomline improving by almost 15 per cent in the first quarter of the current fiscal. The management expects this trend to continue for the remaining period of the current financial year, he added

Ipca is continuously focusing on marketing of high margin formulations in the domestic and international markets. In the domestic market, the company has introduced several new formulations and line extensions and these new products are expected to contribute significantly to the overall domestic formulation sales.

The company has further consolidated its leadership in theanti-malarial market with the introduction of anti-malarial drugs artemether under the brand name Larither and Larimef (mefloquin).

Godha also said that the company plans to step up its research and development (R&D) spending both under capital and revenue accounts. "company is also increasing its R&D manpower to give further impetus to R&D. Ipca is now regularly in touch with national research laboratories of repute to sponsor research projects or to enter licensing arrangements," he added.

Meanwhile, shareholders approved all resolutions including the appointment of managing director, Premchand Godha's son, Pranay Godha, as business development manager of the company.