Biotech industry exports grow 47% to touch US$ 1.2bn

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Biotech industry exports grow 47% to touch US$ 1.2bn

Indian Biotech industry exports grow 47% to touch US$ 1.2 bn in 2006-07

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The Indian Biotech industry, comprising 325 firms, has several reasons to celebrate its performance in the just concluded fiscal 2006-07.

For one the Biotech exports grew 47% to post revenues Rs. 4,937 crore or US$1.2 Bn in export revenue. Secondly, the Top 3 Biotech company slots occupied by three firms of Indian origin, contributed nearly 27% of industry revenue of Rs. 8541 crore. Top 3 industry positions went to - Pune-based Serum Institute (Rs. 951 crore), Bangalore-headquartered Biocon (Rs. 823 crore) and New Delhi-based Panacea Biotec (Rs. 600 crore)--contribute 27 pc of the industry revenue.

For the second year in running, Serum Institute has improved its lead over No 2 player, Biocon to Rs.128 crore compared to Rs. 15 crore last year. The 40-year old Serum Institute, set up by Dr Cyrus S Poonawalla, is the largest vaccines maker in India and second largest Paediatric vaccines maker in the world. Sold in over 150 countries, Serum's vaccine shot is the first for every second child born in the world. The company has capacity to produce 100 million doses of the human influenza vaccine and other key vaccines like hepatitis B and DTP.

These findings will be released in the 5^th industry survey conducted by CyberMedia Group's specialty BioSpectrum magazine in its forthcoming issue. BioSpectrum and Association of Biotechnology Led Enterprises (ABLE) initiated this annual exercise to map the contours of the biotech industry and to identify indomitable winners in 2003.

According to Mr. Pradeep Gupta, Chairman and Managing Director of CyberMedia, publishers of BioSpectrum, "The Biotech industry is now truly global with two-thirds of the revenue coming from exports. The Rs. 8541 crore industry (FY 05-06 Rs. 6521 crore) has emerged among the stars of the knowledge economy by inventing and launching several breakthrough products."

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