Biocon is global Top 20 biotechnology company

Bangalore:  Bangalore-based biotechnology company Biocon today said that the company has been featured amongst the top 25 global biotechnology companies in a report released by medical journal Med Ad News.

Kiran Mazumdar-ShawThe report has evaluated drug-based firms, as these companies provide the best numbers to track the progress of the sector.

Companies have been ranked by revenue and by income, with Biocon Limited, ranked No 20, being the only Asian company to feature in this ranking.Nineteen of the top 25 companies are based in the US, while the others, apart from Biocon, are from Europe to Australia.

Reacting to the listing, Kiran Mazumdar-Shaw, chairman and managing director, Biocon Limited said, "It is a matter of immense pride for Biocon to be ranked amongst the top global league of Biotech companies. This is a validation of our consistent effort at attaining global leadership and also highlights the true potential of this sector in a country like India. This industry will be a key driver in India's progress towards economic development."

There are close to 5000 biotech companies across the globe. The top 25 biotech companies represent 62 percent of all biotech sales and probably over 90 percent of income.

In November 2004, Biocon launched the world's first recombinant human insulin, Insugen, using Pichia expression and India's first indigenously produced monoclonal antibody BIOMAb-EGFRT in September 2006.