The Hindu Business Line : Biocon plans to double headcount

THE headcount of Biocon Ltd will double from around 2,000 now to 4,000 within two years, according to Ms Kiran Mazumdar-Shaw, Chairman & Managing Director.

The Bangalore-headquartered biotechnology company has decided to invest around Rs 100 crore every year in new initiatives for the next few years, she said during an interaction with newspersons.

According to her, the company is open to the idea of investing in "strategic acquisitions" abroad with special focus on "product-driven technology companies that have good intellectual property."

Biocon is yet to zero in on any specific acquisition in this regard. However, strategic investments have been made in a few US-based companies.

Biocon is also looking at international listings "based on licensing opportunities and if we feel that it can help us generate better value than that what we can get in India."

She presented the case for a strong regulatory authority for the pharmaceuticals industry in India in order to ensure adherence to quality standards. "The industry needs to build a quality profile, or else we will lose out on global opportunities," she said.

The company, which clocked turnover of around Rs 750 crore in 2004-05, is hopeful of "double-digit growth" in operations in the current fiscal.

A faster rate of growth would accrue in 2006-07, when the results of several business initiatives that are being taken now will find reflection in the company's balance sheet, Ms Mazumdar-Shaw said.

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