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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.
Biocon is the only Asian company to be on the list.
"My view on taxation levels in India is that it is at a reasonable level and I think what is more important is how the government uses taxpayers' money," said Kiran Mazumdar-Shaw, the Chairman and Managing Director of Biocon, India's largest biotech company by revenue, said.
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.
Biocon, India's top biotech company, is looking to go in for listing of its stocks overseas in two years time, said its chairman and managing director Kiran Mazumdar-Shaw.
Bureaucratic delays are stifling growth in the sector. India should be far more aggressive in launching 'look alike' biological molecules in a fast track manner.
Domestic pharma giant Ranbaxy Laboratories Limited has topped the list of patent filers in the area of drug applications from the Third World countries last year with 64 new formulations.\n\n\n\n
Biotechnology major Biocon India Ltd plans to invest over Rs 500 crore on its expansion plans over the next two years.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
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