The company expects insulin, its other branded formulations and research services to drive growth.
Biotech major Biocon, which has projected sales turnover of Rs 700-750 crore (Rs 7-7.5 billion) this year, on Friday said it will launch recombinant human insulin in two weeks.
Biotech firm Biocon India on Friday reported net profits of Rs 138.63 crore (Rs 1.39 billion) for the year 2003-04, a growth of 219 per cent over Rs 43.51 crore (Rs 435.1 million) recorded for the previous fiscal.
Blaming it on the "ineffective" bureaucracy and "very confused" ruling coalition in Karnataka, Kiran Mazumdar-Shaw, managing director of Biocon Ltd on Friday said infrastructural woes were impeding the growth of Bangalore.
Indian biotech firm Biocon is developing potential 'blockbuster' drugs for treatment of cancer and diabetes, which could hit the market in two to four years.
"We will continue to hire people as our growing business demands manpower," CMD Kiran Mazumdar Shaw told reporters while announcing the company's half-yearly results.
"We are growing fast. We are planning to double the manpower to 4,000 from 2,000 at present. Within a very short period we increased the number of employees by 500 to reach 2000," Biocon Chairman and Managing Director Kiran Mazumdar Shaw said.
Biocon was scouting for more strategic alliances and exploring opportunities for outlicensing its biotech drugs under development, as it pitches for a slot among the top three bio-pharmaceutical players across the globe, said Kiran Mazumdar-Shaw, chairman and managing director.
Learn how the founder of India's first and largest biotechnology company dealt with failure and achieved success.
Biotechnology major Biocon on Tuesday said it aims to achieve revenues of $1 billion in the next three years.
The Biocon chairman said there is a regulatory path for GM crops which aims to establish safety and efficacy over an accepted period and it has been diligently followed by Bt brinjal on the basis of which the Genetic Engineering Approval Committee has given its positive verdict.
The four women have a collective wealth of $11.3 billion and account for a little more than three per cent of the total net worth of all on the coveted list whose collective wealth amount to $346 billion.
Lalit Modi posted a social media video from Vijay Mallya's 70th birthday party in London, referring to the pair as the 'two biggest fugitives' of India.
On her first visit to any state in the Indian Union after being sworn in as President of the Republic, Rashtrapati Droupadi Murmu was felicitated in Bengaluru by some of that city's luminaries.
Biocon on Thursday reported a 12 per cent decline in consolidated net profit to Rs 174 crore (Rs 1.74 billion) for the year ended March 31, 2006 from Rs 198 crore (Rs 1.98 billion) in FY05.\n
'The obvious opportunity is biosimilars, which are simpler but more expensive,' says Kiran Mazumdar-Shaw, founder of Biocon.
Sitharaman, who is not known to reply to comments made on her Twitter handle, instantly choose to respond to drug-maker Biocon chairman Kiran Mazumdar-Shaw's criticism of lack of fiscal measures to support growth.
Sebi has barred Allegro Capital and one of its senior executives from the securities market for one year in a case related to alleged insider trading activities in the shares of Biocon. Besides, the market watchdog has directed them to disgorge wrongful gains along with interest. The amount would be more than Rs 24 lakh. Allegro Capital and its director as well as major shareholder Kunal Ashok Kashyap have been fined Rs 10 lakh each, according to an order by Sebi dated July 8.
'I want to tell big IT companies and others that such things (pothole issue) are everywhere, we are doing our job. It is there across the country, but we have a duty, we will do it'
Profit up due to strong performance of biopharma segment.
It's truly women on top as all four Indian corporate leaders featuring in Forbes' list of Asia Pacific's most generous business personalities this year are women.
Given the gestation period for regulatory clearances it is not possible to share any definite timelines.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
Kiran Mazumdar-Shaw, chairman and managing director of Biocon, Chanda Kochar, executive director of ICICI Bank and Vidya Chhabria, chairman of Jumbo Group
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Clinical trials, agri-biotech and bio-fuels are becoming opportunities. There are a lot of growth drivers and trigger points which, she said, will deliver in the next five years.
DCGI has approved to market Itolizumab (ALZUMAb) injection 25mg and 5mL solution for emergency use in India for the treatment of cytokine release syndrome (CRS) in moderate to severe ARDS (acute respiratory distress syndrome) patients due to COVID-19, Biocon said in a release.
ICICI Bank CEO and MD Chanda Kochchar, Biocon founder Kiran Mazumdar-Shaw and film producer Ekta Kapoor are among the nine Indian women named in Forbes magazine's inaugural 'Asia Power Businesswomen list'.
India's biotechnology industry is pushing the government for fiscal incentives, import duty exemption and correction of policy that gives MNCs higher drug prices than "desi" producers, ahead of the Union budget.
Other corporate leaders, including Biocon chief Kiran Mazumdar Shaw, UB Group Chairman Vijay Mallya and Mahindra Group vice-chairman Anand Mahindra, have also expressed concerns over the current state of economy in the country.
Industry leaders have urged the government to carry forward the reforms process.
Refutes claims of differences between board, founders and Sikka; board needs to do better scrutiny, says Mohandas Pai.
Bt brinjal is a genetically-modified vegetable which is infused with Cry1Ac gene from a bacterium Bacillus thuringiensis to make the plant resistant to the fruit and shoot borers and certain pests.
In this second part - of 'Glass-ceiling in India' - we bring you India's successful entrepreneurs. These women are stereotype-busters in their own right.
Three Indians PepsiCo chief Indra Nooyi, ICICI Bank's CEO Chanda Kocchar and Kiran Mazumdar Shaw of Biocon -- have been listed in 'The World's 100 Most Powerful Women' list by Forbes magazine.
Researchers and scientists in India would have to be innovative if the country wished to unleash its vast intellectual potential, chairman and managing director of Biocon Ltd Kiran Mazumdar Shaw said on Saturday.
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
