Leading biotech company Biocon Ltd will double its current headcount in the next two years in tandem with the growth potential in the sector.
"We are growing fast. We are planning to double the manpower to 4,000 from 2,000 at present. Within a very short period we increased the number of employees by 500 to reach 2000," Biocon Chairman and Managing Director Kiran Mazumdar Shaw said on Monday.
The number of scientists in the company would be increased three-fold to 1,000 in two years. "Our workforce profile is well balanced. Scientists comprise 60 per cent of the total manpower. Thirty per cent are women," Shaw said.
Beside, the company is witnessing a healthy growth in the contract research business managed through its subsidiary Syngene International, the largest in the country.
The contract research business will grow as India gets more research outsourcing contracts due to cost factors, she said.
"Currently, the revenue from this segment is five per cent but we hope it will grow to 15 per cent of the total Biocon group revenue," Shaw said.
For 2004-05, Syngene registered 72 per cent in revenues from Rs 38.5 crore (Rs 385 million) to Rs 66.10 crore (Rs 661 million). It boasts international clients like Merck and Novartis.
Clinigene International has also tied up with a US-based company, Scirex.
The tie-up will faciliate Biocon's subsidiary to boost the global clinical trial outsourcing business. Meanwhile, the company hopes to market a cancer drug, 'Biomab' (antibody treatment), in the domestic market by the next first quarter of the next fiscal.
Human clinical trials were being carried out in multiple clinics in the country. Biocon is currently focusing on head and neck cancer.
Biocon claimed it was moving ahead satisfactorily in oral insulin research. If the roadmap prepared for the launch moves at the desired pace, it would be able to offer it by 2008.
Biocon said it expected to complete the mega Rs 750 crore (Rs 7.50 billion) international standard biotech park project at Bangalore in the next four to five months.
"We hope that the biotech park project will be complete by December or January," Shaw said.
Speaking on the proposed future capital investment of the company she said, "As we have made a major investment this year, that for the next two to three years will not be much. The investment could be around Rs 100 crore (Rs 1 billion) a year."
Asked about acquisitions plans, Shaw said: "We are open to it if we can get some synergy from buyouts at the right price. However, there are no companies on our radar currently, though we have investments in two US companies," she added.
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