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Home > Business > Business Headline > Commodities

India's biotech export touches $1.2 billion

Commodity Online | June 18, 2007 12:32 IST

India's export revenue from biotechnology grew by 47 percent to reach 1.2 billion dollars in the financial year ended March 2007, a survey said.

According to a survey conducted by the Association on Biotechnology Led Enterprises, leading Indian pharma companies contributed almost 27 percent of the industry revenue. They included Serum Institute, Biocon [Get Quote] and Panacea Biotec [Get Quote].

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

The survey predicted that as many as 400 firms can 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 Rs.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 per cent 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, the survey revealed.

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