Increased spending in research and development in the pharmaceutical industry led to a doubling in net income for Lancaster-based Simulations Plus Inc. for the 2007 fiscal year. The software firm reported an income of $1.5 million, or $0.08 per diluted share, on revenues of $8.8 million for the fiscal year ending Aug. 31. For the 2006 fiscal year, the company had a net income of $676,000, or $0.04 per diluted share, on revenues of $5.9 million. The pharmaceutical industry surpassed aerospace in research and development budgets and simulation and modeling tools such as those made by Simulations Plus are talked about everywhere, Chairman and CEO Walt Woltosz. The company is currently in negotiations to make acquisitions in the pharmaceutical and the disability products sides of the business, Woltosz said. “Our intent for such deals is to increase revenues and earnings by acquiring products and technologies that complement what we do now,” Woltosz added.