Biotech sector posts 64% growth

By SiliconIndia   |   Thursday, 25 September 2003, 07:00 Hrs
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Hyderabad, Sept. 24: The biotechnology industry in India appears to be on a roll, with the sector posting a turnover of Rs 1,830 crore in 2002-03, even as the workforce grew by over 64 per cent over the previous year to 6,400 people, according to a survey.

“The figure takes into consideration the biopharma, bioagri and bio-industrial products, bioinformatics and the clinical trials and contract research services market. It does include the hybrid seeds and the sale of equipment. Including the suppliers business to the industry, the total was Rs 2,305 crore,” the survey conducted jointly by BioSpectrum magazine and the Association of Biotechnology-Led Enterprises said.

The industry is expected to register a 25-20 per cent growth in 2003-04, while investments are expected to double in the next two years, it said.

“Investment in biotech companies continues to remain inadequate, venture funding is scarce, infrastructure is expensive and regulatory regimes are deficient. Despite this difficult environment, entrpreneurs are setting up new ventures, signifying the intrinsic belief in biotechnology being the business of the future,” an official statement quoted ABLE president and Biocon chairperson Kiran Mazumdar-Shaw as saying.

According to the survey, out of the total market, the biopharma sector, including vaccines, therapeutics, diagnostics and animal healthcare products, accounted for 70 per cent of the market with total sales touching Rs 1,275 crore. The total investment in the industry in 2002-03 was Rs 635 crore, up from Rs 505 crore in the previous year.

Besides the update, the survey also listed the Top 50 biotechnology companies in the country, in terms of sales. The Bangalore-based Biocon India, with estimated biotech sales of Rs 255 crore, was the largest, followed by Panacea Biotec with Rs 169.8 crore, Wipro HealthScience with Rs 98.55 crore, Wockhardt with Rs 74 crore and Haffkine Bio-Pharmaceutical with Rs 92.90 crore.

The Hyderabad-based Krebs Biochem was at the eighth rank with revenues of Rs 64.16 crore, followed by Indian Immunologicals at 10 with revenues of Rs 55.31 crore, Shantha Biotechnics at 20 with revenues of Rs 26 crore, Bharat Biotech International at 25 with sales of Rs 19 crore. Biological E was at number 29 with sales of Rs 17 crore.

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