- Reuters•8 months ago
India's biggest biotech firm Biocon Ltd expects revenue to double to $1 billion in four years as it expands in Europe and the United States with new products, its chairperson and managing director said on Saturday. In a tie-up with U.S. generic drugmaker Mylan NV, the Bangalore-based biopharmaceutical firm has five biosimilar products - almost identical copies of original drugs - entering global regulatory approval stage which is expected to take about 18-20 months. "We forecast that by financial year 2019 our revenues will be $1 billion with 25 percent coming from research and 75 percent from rest of our business," Kiran Mazumdar-Shaw told Reuters on a business visit to Abu Dhabi.
- Reuters•9 months ago
India, which has dominated the generic drugs industry for decades, is falling behind in the race to make copies of complex biotech drugs, which are expected to generate tens of billions of dollars in sales in the coming years. While Indian firms have launched a few such products on the domestic market, where regulatory barriers are relatively low, they are being overtaken by European, American and South Korean firms in the race to supply lucrative Western markets. Just three Indian groups - Biocon Ltd, Dr Reddy's Laboratories Ltd and Intas Pharamceuticals Ltd - are working with partners on so-called biosimilars aimed at the United States and Europe.
|52wk Range||395.30 - 828.00|
|Day's Range||800.55 - 826.00|
|Avg Vol (3m)||1,120,627|
As of 6:00 AM EDT. Market closed.