India's biotech sector crosses 1 bln usd revenue mark in yr to March
India's biotech sector crosses 1 bln usd revenue mark in yr to March
BANGALORE, India (AFX) - India's biotechnology industry posted year to March revenues that crossed the 1 bln usd mark, or 47.4 bln in rupee terms, up 36 pct year-on-year mainly on the back of exports and vaccine sales, the Association of Biotechnology-Led Enterprises said.
The association said exports of biotech products, driven by vaccines and statins and services such as contract research and clinical trials, accounted for 42 pct of total revenues by the industry in the year at 20 bln rupees.
The association said six Indian biotechnology firms crossed the 1-bln rupee revenue mark during the fiscal year against the previous year.
It said 45 new firms began operations last year, taking the total number of Indian biotechnology companies to 280. Some 11,800 scientists are employed in the industry.
'The Indian biotechnology sector is growing rapidly, gaining global visibility,' Kiran Mazumdar Shaw, president of the association and chief of India's top biotech firm, Biocon, was quoted by Agence France-Presse as saying.
Biocon has revenues of 6.5 bln rupees.
BANGALORE, India (AFX) - India's biotechnology industry posted year to March revenues that crossed the 1 bln usd mark, or 47.4 bln in rupee terms, up 36 pct year-on-year mainly on the back of exports and vaccine sales, the Association of Biotechnology-Led Enterprises said.
The association said exports of biotech products, driven by vaccines and statins and services such as contract research and clinical trials, accounted for 42 pct of total revenues by the industry in the year at 20 bln rupees.
The association said six Indian biotechnology firms crossed the 1-bln rupee revenue mark during the fiscal year against the previous year.
It said 45 new firms began operations last year, taking the total number of Indian biotechnology companies to 280. Some 11,800 scientists are employed in the industry.
'The Indian biotechnology sector is growing rapidly, gaining global visibility,' Kiran Mazumdar Shaw, president of the association and chief of India's top biotech firm, Biocon, was quoted by Agence France-Presse as saying.
Biocon has revenues of 6.5 bln rupees.
posted by India News Watch at 6:37 AM
<< Home