Thursday, June 17, 2010

Mumbai Tops the List of Biotech Cities

This may be interesting for you all to know that Mumbai has won the tag of "Top Biotech City" in terms of revenues, Mumbai has outplaced Bangalore with a very small margin of Rs. 200 Crores. Western India is continuosly dominating India's Biotech Industry with 46% shares in the overall revenues, out of which the major contributors are Mumbai, Pune and cities of Gujrat. This data has been revealed in the 8th Annual Survey conducted jointly by the Association of Biotechnology Led Entreprises (ABLE) and monthly journal "Biospectrum" from the Cyber Media Group, based on inputs from over 150 Biotech Firms.
According to the same report Biocon (well known for Insulin and Cancer Drugs) has topped the list of "Top 20 Biotech Companies" with a tremendous growth rate of 29.34% and recorded revenues of Rs. 1180 crores followed by Serum Institute of India and Penacea Biotech. Also, last year, Serum Institute of India was the first organization in India which was approached by World Health Organization for development and manufacture of H1N1 vaccine to fight against swine flu pandemic. Amongst all the sectors of biotech, the major contributor is the Biopharma sector followed by bioservices and bioagri.
The Indian Biotech Industry as a whole has grown 3 folds in just 5 years to report revenues of US$ 3 billion during 2009-2010, showing a growth rate of 17% over the previous year.
This growth reveals that investments in Research and Development activities is huge at present and also will increase multifolds in the near future, thereby generating new technologies in the biotech sector. Here, as we all know that, IP professionals play a key role and I presume there is going to be a huge demand for IP Services as well.

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