Indian Biotech crosses a billion

Its time for India's promising sunrise industry to celebrate. The reason
being that the fledgling industry has touched the magical $1 billion (Rs 4745
crore) mark. This was revealed at the 3rd BioSpectrum-ABLE biotechnology
industry survey in Bangalore recently.

An exultant Kiran Mazumdar Shaw, president ABLE (Association of
Biotechnology-Led Enterprises), and CMD Biocon said, "This is an
interesting phase for the Indian BT industry. Crossing the $one billion mark is
a psychological breakthrough. This barrier being past us, it will be easier to
attain our next billion."

The industry grew 36.5% from the previous year with biopharma making up for
75% of the entire industry revenues. Despite this, the fact remains that Indian
biotech's contribution to the world biotech market (around $90 billion) is
still a miniscule 1.1%.

CYBERMEDIA NEWS