Biotech industry records three-fold growth in 5 years

Written by fe Bureaus | New Delhi | Updated: Jun 23 2010, 05:18am hrs
The Indian biotech industry has grown three-fold in the last five years to touch revenues of $3 billion in 2009-10. The domestic biotech industry registered a growth of 17% over the previous year, according to a joint study by industry body, Association of Biotechnology Led Enterprises and trade publication Bio-Spectrum said.

Bangalore-based Biocon regained its top position among the domestic biotech companies after four years, recording a revenue of Rs 1,180 crore. The company has registered a year-on-year growth rate of 29.3% to reclaim its lost position. Pune-based Serum Institute of India Ltd, with a revenue of Rs 850 crore, and Delhi-based Panacea Biotec, with a revenue of Rs 703 crore, have emerged as the second and third-largest companies in the country, respectively. The study projects a slowing down of growth for the domestic biotech industry, which, it says, would grow at 20% annually in the next few years.

Pune-based Serum Institute of India, which makes one out of every two vaccines produced in the world, slipped to the second position from the top slot and recorded a negative growth of over 23%. Last year, Serum was the first company in India approached by the World Health Organization to develop and manufacture the H1N1 vaccine to fight the swine flu pandemic. Also, Panacea Biotech which has shown an annual revenue growth of 17% played a key role in eradicating polio by supplying over 6 billion doses of oral polio vaccine to the Government of India and UNICEF.

Within the biotech sector, the biopharma segment contributed nearly three-fifth to industrys revenues at Rs 8,829 crore recording a growth of 12%. This is followed by revenues clocked by bioservices at Rs 2,639 crore and bio-agriculture at Rs 1,936 crore. The remaining revenue came from the bio industrials segment with a contribution of Rs 564 crore and bioinformatics at Rs 231 crore.

With revenues of Rs 6,631 crore, the western part of the country emerged as the biggest contributor to Indias biotech sector revenues followed by the southern biocluster contributing Rs 5,538 crore to the total biotech kitty.

The state of Gujarat alone contributed about 8% of the total revenues at Rs 1,100 crore, by registering a growth of about 50%. The Northern biocluster trailed behind by contributing just about one-seventh of the revenues at Rs 2,030 crore.