India's biotech exports reach $1.2 bn in 2006-07: survey

Friday, 15 June 2007, 07:00 Hrs
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New Delhi: Revenues from India's biotech industry exports grew by 47 percent to reach $1.2 billion in the financial year ending March 2007, according to a survey.

The leading pharma companies, which contributed almost 27 percent of the industry revenue, are Serum Institute, Biocon and Panacea Biotec, according to the survey conducted by BioSpectrum, a journal published by the CyberMedia Group, along with Association of Biotechnology Led Enterprises (ABLE).

The industry introduced more than a dozen new products along with several new transgenic cottonseeds for the bio-agri sector.

According to the survey, as much as 400 firms would earn revenues of about $5 billion by 2010, bringing almost 100 biotech products in the market.

The biopharma segment, accounting for over two-thirds of the industry, reported sales of 59.73 billion, representing a growth of 27 percent. The bioservices sector registered 53 percent growth, the bioagri sector 55 percent, and the bioinformatics and bioindustrial sectors recorded growth of 21 percent and 5 percent respectively.

Last year witnessed numerous mergers and acquisitions in this sector with Pune-based Serum Institute picking up a 14 percent stake in Britain-based Lipoxen focussing on developing biologicals, vaccines and oncology drugs.

Biocon's Syngene tied up with Bristol-Myers Squibb to provide research and development services for discovery and early drug development.
Source: IANS
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