Financial Daily from THE HINDU group of publications
Friday, Nov 26, 2004
Financial Daily from THE HINDU group of publications Friday, Nov 26, 2004 |
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Corporate
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Outlook Biocon plans Rs 700 cr investment R. Y. Narayanan
Coimbatore , Nov. 25 BIOCON Ltd., which has hit the market with its new generation bio-insulin `Insugen', plans to invest about Rs 700 crore in the next 30 months to ramp up production and scale-up its research facility. It feels that its tie up with Nobex Corporation of the US for the development of oral insulin will change the way diabetes is treated globally. Speaking to Business Line, Mr Ajay Bharadwaj, President-Group Marketing, said it took four years for Biocon to develop the injectable bio-insulin, which he said was `cost effective, safe and efficacious'. The company is offering regular, injectable insulin in three different formulations — long acting, rapid acting and mixed — all of which are uniformly priced. He said the total diabetes-drugs market in India was estimated to be more than Rs 1,500 crore annually, of which insulin's share was about Rs 220 crore. Biocon is addressing this market.
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