Biotech needs Centre’s fiscal dose: Kiran Shaw

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Bangalore, April 22: Urging Indian biotechnology sector to work towards becoming a $5 billion business by 2010, Biocon CMD Kiran Mazumdar Shaw said that the country should offer strong biotech products in the global market.

Addressing the inaugural session of the fifth edition of Bangalore’s biotechnology event Bangalore Bio 2005, Ms Shaw said that the government should bring in infrastructural and fiscal support to help the sector grow its full potential.

In view of growing global interest in India’s research capabilities, a Bill for promoting clinical research organisations in the country is vital, she said. The government should also provide an enabling regulatory environment to allow co-development of drugs in an unhindered way.

The two tasks forces formed for streamlining the growth of agri and pharma biotcehnlogy sectors, have already formed two separate regulatory frameworks for the sectors. These frameworks will be implemented shortly.

The $2.5 billion Indian biotech sector has 265 active companies in this field, with 131 of them based in Karnataka. Bangalore houses 127 biotech companies.

Karnataka is leading in terms of number of new biotech companies being established in India. While 46 new companies set shop in India during 2004-05, Karnataka alone had 21 of them.

The biotech sector had a total project investment of $325 million between 1990 and 2004, of which $190 million - including $150 million by Biocon itself - were made during the past 12 months. The sector employed over 20,000 professionals, of which 33% are graduates, 30% are post graduates, 18% are Phd holders and 15% are MBA or engineering graduates, she said.

The Indian biotechnology sector has 35% agri biotech, 13% bioinformatics and 30% supply sector and 14% outsourced segment palyers.

The Indian biotech sector is becoming more active with global partnerships and initiatives taking off here.