Biotech industry records over 35 pc revenue growth for 3rd year

Bangalore, June 9 (UNI) For the third consecutive year, biotech industry in the country has clocked revenue growth in excess of 35 per cent and in 2005-06 it grew by 37.42 per cent to record 1.45 billion Dollar, according to the fourth BioSpectrum-ABLE Biotech industry survey.

Releasing the survey report at the inaugural of Agribiotech day at Bangalore Bio-2006 here today, BioSpectrum Publisher Narayan Suresh said that during 2005-06, the BioPharma sector alone crossed the one billion Dollar mark, propelled by exports worth Rs 2,495.24 crore.

He said the biotech industry, which started to gain size in the 21st century, was still dependant on exports to get over half its revenue. Its share of exports had increased marginally from 48.5 per cent to 51.5 per cent in 2005-06, accounting for Rs 3,357.17 crore.

According to the survey conducted in April-May 2006, BioPharma exports accounted for 74.33 per cent of the total exports, clocking Rs 2,495.24 crore in revenues. BioAgri's share of exports was the lowest at 1.07 per cent and worth Rs 35.88 crore. BioServices' overseas revenue fetched Rs 684 crore and BioIndustrial and Bioinformatics sector accounted for 1.23 per cent and three per cent respectively.

The survey revealed that investment in biotech industry had increased from Rs 1,215 crore in the previous year to Rs 1,650 crore in 2005-06, with over 25.3 per cent of its revenues going into research and building infrastructure.

Sectorwise, the Southern region continued to remain second, accounting for 36 per cent of the industry's revenue, while the West was the topper for the fourth year in a row with companies from the region totalling 49.6 per cent. The Pune-based Serum Institute of India, led by Dr Cyrus Poonawalla, had overtaken Biocon Ltd, the leader for the last three years, to become the number one biotech company. Serum, which sells vaccines in nearly 150 countries, notched up Rs 703 crore in sales, ahead of Biocon's Rs 688 crore.

UNI MV GD TS1832