India's export revenue from biotechnology grew by 47 percent to reach 1.2 billion dollars in the financial year ended March 2007, a survey said.
According to a survey conducted by the Association on Biotechnology Led Enterprises, leading Indian pharma companies contributed almost 27 percent of the industry revenue. They included Serum Institute, Biocon and Panacea Biotec.
It said the industry introduced more than a dozen new products along with several new transgenic cottonseeds for the bio-agri sector.
The survey predicted that as many as 400 firms can earn revenues of about $5 billion by 2010, bringing almost 100 biotech products in the market.
The biopharma segment, accounting for over two-thirds of the industry, reported sales of Rs.59.73 billion, representing a growth of 27 percent. The bioservices sector registered 53 percent growth, the bioagri sector 55 percent, and the bioinformatics and bioindustrial sectors recorded growth of 21 percent and 5 per cent respectively.
Last year witnessed numerous mergers and acquisitions in this sector with Pune-based Serum Institute picking up a 14 percent stake in Britain-based Lipoxen focussing on developing biologicals, vaccines and oncology drugs, the survey revealed.
Biocon's Syngene tied up with Bristol-Myers Squibb to provide research and development services for discovery and early drug development.
