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Meera Mohanty

New Delhi , Nov. 27

Biocon will invest $10 million in the next 12 months in expanding its facilities, said Dr Kiran Mazumdar-Shaw, Chairman and Managing Director. "We are quadrupling our facilities, and increasing the range of our products," she said.

The company will not just expand its existing facilities of drug development and clinical research, but also enter into data management.

Biocon is also about to enter phase three clinical testing for rheumatoid arthritis drug that it hopes to launch in India in the next three years. Like the cancer drug BIOMab{trade} EGFR (Epidermal Growth Factor Receptor), the drug for arthritis code named P1H will also be a branded drug.

Biocon hopes to sell the drug internationally two years following its India launch. "The market is estimated at billions of dollars, and this will be a great opportunity for Biocon," said Dr Shaw.

The company also expressed disappointment with the Government's initiative at price control.

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