The Hindu Business Line : Biotech industry revenues cross $1 b; Biocon retains top spot

Ms Kiran Mazumdar Shaw, CMD, Biocon Ltd, and Mr Suresh, Editor, Biospectrum, at the release of 3rd BioSpectrum ABLE Biotechnology Industry Survey in Bangalore on Friday. — G.R.N. Somashekar

Bangalore , June 10

THE biotech industry in the country has made a mark on the global scene with revenues crossing $1 billion.

According to the third BioSpectrum-ABLE biotechnology industry survey, the sector grew 36 per cent in 2004-05, to account for a turnover of Rs 4,745 crore.

While domestic sales comprised 58 per cent of the industry size, exports contributed 42 per cent. This also marks the entry of two more companies - Mahyco-Monsanto and Venkateshwara Hatcheries - in the Rs 100-crore plus revenue bracket.

The survey covering 280 biotech companies and 180 bio-suppliers, shows that over 75 per cent of the growth has come from the bio-pharma segment, which is growing at 30 per cent year on year.

The bio-agri segment grew 154 per cent, spurred by sales of Bt cotton.

The survey also ranks the country's top 20 home-grown biotech companies, with Biocon retaining the top spot followed by Serum Institute.

Describing this as an exciting time for the Indian biotech industry, Ms Kiran Mazumdar-Shaw, President, ABLE (Association of Biotechnology-led Enterprises) and CMD, Biocon Ltd, said, "Now that we have crossed the psychological barrier of $1 billion, the next billion should be easier."

Though the country commands just 1.1 per cent of the global market (worth $91 billion), Ms Shaw is optimistic of reaching $5 billion by 2010.

"The National Biotechnology Strategy Document, which is under preparation, promises extensive support and will enable this growth," she said.

According to her, there is an urgent need to address affordable R&D, which can be facilitated by "biopartnering and co-developing technologies."Clinical development, if enabled by regulatory framework, is another area that offers huge growth opportunity, said Ms Shaw.

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