The biotechnology sector grew 21.5% in fiscal 2010-11, to breach the $4-billion mark, revealed an annual survey conducted by BioSpectrum and Association of Biotech Enabled Enterprises (ABLE). Bangalore-based Biocon retained its number one position with revenue of R1,083 crore while Pune-based vaccine manufacturers, Serum Institute of India, with revenues of R1,041 crore, was placed second.
?Growing at the fastest rate in five years, the sector clocked a total revenue of R18,399.34 crore. The south region has caught up with the west, improving its share in the overall Indian biotech industry to 44.22% in 2010-11 from 39% in 2009-10. The west region?s share is 43.60%,? ABLE and BioSpectrum said in statement.
With revenues of R928.41 crore, New Delhi-based Panacea Biotec came in third, followed by Nuziveedu Seeds from Hyderabad, and Reliance Life Sciences, from Mumbai. Shantha Biotech and Jubilant Life Sciences faced a drop of 18.62% and 15.76% in revenue respectively.
According to the report, biotech, which grew at 21.5% over the previous year, contributed R17,249.34 crore, while the life science education market made-up for the remaining Rs 1,150 crore.
?Biopharma, which makes up two-fifth of the industry, contributed R10,645 Crore, while the bio agri sector, which achieved the fastest growth amongst all verticals, was at R2480 crore,? the survey reported.
While Frost & Sullivan had released a report stating that the sector had not reached its $5 billion target for the fiscal 2010 during the annual Bangalore-India-Bio trade show held last last month, a Karnataka state official from the department of IT & BT had declared that the Indian biotech sector was expected to reach $10 billion by 2015.