Biocon eyes more research outsourcing deals
Our Corporate Bureau
22 March 2007
According to its founder, Kiran Mazumdar-Shaw, chairman and managing director, pharmaceutical research could be carried out in India at about one-fourth of the cost in the United States mainly due to the availability of a large pool of cheaper talent pool.
"Today, there is serious pressure on big pharma companies plus small biotech companies to outsource a large part of their research," she said.
Mazumdar-Shaw told reporters in Bangalore that research services would be a "very important and integrated part" of the Biocon group and the company plans to increase the share of research services business to a quarter of its total revenue in the next five years from about 15 per cent now.
US drug maker Bristol-Myers Squibb, had said last week that it would work with Biocon's research services unit Syngene to set up a facility in Bangalore to aid discovery and early drug development.
Mazumdar-Shaw started Biocon in her garage in Bangalore in 1978, possibly before garage start-ups became a rage in Silicon Valley. Today, Biocon earns healthy revenue from branded drugs like BioMab EGFR used in the treatment of head and neck cancer, and a large portion from its enzymes businesses.