Western region leads Indian biotech growth
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Western region leads Indian biotech growth

By agencies   |   Thursday, 08 June 2006, 07:00 Hrs
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BANGALORE: In the race for supremacy in the Indian biotech sector, the western region has claimed the number one spot during the fiscal (2005-06) by contributing 50 percent of the total revenues of $1.5 billion as against 37 percent by the southern region.

Giving an account of the sunrise sector's performance, Karnataka Biotech Vision group chairperson Kiran Mazumdar-Shaw told the Bangalore Bio 2006 event here that the western region accounted for $718 million, southern region $526 million and the northern region $200 million, with a 15 percent year-on-year growth.

Bangalore-based bio-pharma accounted for 62 percent, bio-services 18 percent and bio-industrial 12.5 percent. Biotech exports were $190 million.

"India is making a fast progress in life sciences with the increase in the availability of trade skills and quality workforce. The number of returning scientists has been adding to the skill-base, thereby improving the standards of bio manufacturing. The clinical data research is receiving more recognition. India's drug development path is improving by rapid strides," Shaw said.

About 320 firms were registered in India during the fiscal year under review. Of them 175 companies were set up in Karnataka, including 158 in Bangalore.

The biotech sector will build new business models based on niche markets and steer away from blockbuster models. Our role will be key to affordable drug development and bio-partnering will proliferate between U.S.-European and Indian firms.

"Venture capital will influence an India-China strategy for investor companies; US/Europe will continue to lead the way in discovery research. Asia will provide leading hubs for clinical development and stem cell therapies. Diagnostics will drive personalized medicine," Shaw pointed out.

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