Biotecnology Biocon Goes for US $ 1 Billion Revenue
Biotechnology company Biocon, an Indian manufacturer of biosimilars and pharmaceuticals, aims for revenues of US $ 1 billion within the next three years.
New Dheli/India – The Indian company, one of the major biotechnology firms, eyes a revenue of US $ 1 billion within the next three fiscals, Biocon chairman and managing director Kiran Mazumdar Shaw told the Press Trust India (PTI). According to the Indian Economic Times, Shaw sees Biocon among the top ten gloabl biotechnological companies in the world.
Only recently Biocon expanded its activities to Malaysia, where the company currently constructs a new biopharmaceutical manufacturing and R&D facility on September 10th.
“This facility will cater to the global requirements for Biocon's range of Biosimilar insulin and insulin analogs for diabetes treatment, being commercialized by Pfizer.,” said Shaw.
Only recently, an Ernst & Young market report highlighted great potentials for the Indian biotechnology industry. In 2010, the Indian biotech market reached a record turnover of over US $ four billion.