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RANBAXY TO RECEIVE GOVERNMENT FUNDING

December 18, 2006

Ranbaxy Laboratories has entered into a collaborative agreement with India's Department of Science & Technology in the area of new drug discovery research. Under the agreement, the government will provide financial support by way of soft loans to Ranbaxy to undertake research activity.

"This public-private partnership will enable research-oriented companies like Ranbaxy to explore and develop innovative medicines at affordable costs and thereby combat diseases more effectively," Pradip Bhatnagar, vice president of Ranbaxy, said.

The government has several programs designed to encourage basic research across several areas of science and technology including pharma area. Roughly 25 drug companies have taken advantage of the program.

The collaboration with Ranbaxy involves developing anti-infective and anti-inflammatory drugs. The funding will enable Ranbaxy to conduct the preclinical toxicity studies/safety studies of the company's investigational drugs.