Nicholas Piramal India Limited (NPIL) is one of India's largest pharmaceutical companies with strong brand management and sales capabilities, a FDA site-approved plant for on-and-off patent APIs and Intermediates. It has R&D capabilities in basic research, process innovation, custom chemical synthesis, formulations R&D, NDDS, and also has a world-class accredited clinical research organization. It has set up an R&D center in Mumbai which can accommodate about 400 scientists. NPIL has invested 17 percent equity in Canadian biotech research company - Biosyntech, Inc. The company's revenue from the biotech division dropped from Rs 65.06 crore in 2002-03 to Rs 50.8 crore in 2003-04. It further dropped to Rs 11.5 crore in 2004-05. This is mainly because of ceasure of the agreement with F Hoffman - La Roche. Meanwhile, it has entered in licensing agreements with companies like Biogen IDEC and Genzyme Corporation. In 2005-06, its biotech sales revenue slightly increased to Rs 13.65 crore and its diagnostic sales stood at Rs 16.02 crore.