Biocon is world's 7th largest biotech employer: Report

Bangalore, Sept 22 (ANI/Business Wire India): Biocon, India's pioneering biotechnology enterprise, announced today that the company has been ranked as the 7th largest employer amongst the top global biotechnology companies, according to a report released by Med Ad News.

The report takes into consideration drug based firms, as these companies provide the best numbers to track the progress of the sector. Companies have been ranked by number of employees and Biocon Limited is the only Asian company to feature at Number 7.

BIO 2008, held in San Diego recently, stated that the global biotechnology industry will be a 0 billion annual business by 2010. The actual revenue has reached 85 billion dollars in 2007.

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.

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."

Biocon Limited is India's pioneer biotechnology enterprise established in 1978. Biocon and its two subsidiaries, Syngene and Clinigene form a fully integrated biotechnology enterprise, with specialized focus on biopharmaceuticals, contract research and clinical research. Strategic international acquisitions, such as acquiring a majority in the German pharmaceutical company, AxiCorp, have given Biocon wider global access and greater market penetration. Many of our products have USFDA and EMEA acceptance.

ANI