(News) Biotech industry records three-fold growth in 5 years
Biotech industry records three-fold growth in 5 years
The Indian biotech industry has grown three-fold in the last five years to
touch revenues of $3 billion in 2009-10. The domestic biotech industry
registered a growth of 17% over the previous year, according to a joint study by
industry body, Association of Biotechnology Led Enterprises and trade
publication Bio-Spectrum said.
Bangalore-based Biocon regained its top position among the domestic biotech
companies after four years, recording a revenue of Rs 1,180 crore. The company
has registered a year-on-year growth rate of 29.3% to reclaim its lost position.
Pune-based Serum Institute of India Ltd, with a revenue of Rs 850 crore, and
Delhi-based Panacea Biotec, with a revenue of Rs 703 crore, have emerged as the
second and third-largest companies in the country, respectively. The study
projects a slowing down of growth for the domestic biotech industry, which, it
says, would grow at 20% annually in the next few years.
Pune-based Serum Institute of India, which makes one out of every two vaccines
produced in the world, slipped to the second position from the top slot and
recorded a negative growth of over 23%. Last year, Serum was the first company
in India approached by the World Health Organization to develop and manufacture
the H1N1 vaccine to fight the swine flu pandemic. Also, Panacea Biotech which
has shown an annual revenue growth of 17% played a key role in eradicating polio
by supplying over 6 billion doses of oral polio vaccine to the Government of
India and UNICEF.
Within the biotech sector, the biopharma segment contributed nearly three-fifth
to industry’s revenues at Rs 8,829 crore recording a growth of 12%. This is
followed by revenues clocked by bioservices at Rs 2,639 crore and
bio-agriculture at Rs 1,936 crore. The remaining revenue came from the bio
industrials segment with a contribution of Rs 564 crore and bioinformatics at Rs
231 crore.
With revenues of Rs 6,631 crore, the western part of the country emerged as the
biggest contributor to India’s biotech sector revenues followed by the southern
biocluster contributing Rs 5,538 crore to the total biotech kitty.
The state of Gujarat alone contributed about 8% of the total revenues at Rs
1,100 crore, by registering a growth of about 50%. The Northern biocluster
trailed behind by contributing just about one-seventh of the revenues at Rs
2,030 crore.
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Courtesy:
Financialexpress.com
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