With the strong growth of Pharmaceutical market in India, ' Biotech Companies in India ' are fast catching up with their cousin and in days to come to become the global hub for biotech products.
The ' Biotech Companies Operating in India ' envisage to make India the Biotech City of world. It has helped to open several International standard institutes imparting quality education on Bioinformatics, Applied Biotechnology. The Department of Information Technology is the regulator Biotechnology. ' India Biotech Companies ' do have the leverage of -
- Host of International-standard research institutes (both private and Public sector).
- A rich pool of scientist and technical workforce.
- Entrepreneurial spirit; VC funds are flowing-in rapidly.
- Pro-active policies by the Government and a strong IPR regime.
- Cost effective research products (70% less than in western countries).
Biotech Companies in India ' are in their infancy but promises exponential growth. ' Indian Biotech Companies ' like Biocon, Panacea Biotek, Wipro Healthsciences, Eli Lily etc. have generated huge pool of new or enhanced molecule for global companies which generated tremendous profits. Sources says, till 2003 the top 10 ' Biotech Companies in India ' generated business worth INR 850 crore and the numbers are still growing. Over the last decade ' Indian Biotech Industry ' consumption of Human and Animal Health care products Agricultural products and Industrial products increased substantially. In India only 10 products are approved for marketing, namely -
- Insulin.
- Alpha Interferon.
- Hepatitis B surface antigen based vaccine.
- GM-CSF.
- G-CSF.
- Blood clotting factor VIII.
- Human growth hormone.
- Erythropoietin.
- Streptokinase.
- Follicle stimulating hormone.
Hbs Ag vaccine has been approved for marketing and production very recently while all others are still being imported. Moreover India offers opportunity in the areas of Pharmacogenomics, Monoclonal antibody technologies, protein engineering technology, DNA sequencing etc. Biocon the market leader in the pool of ' Biotech Companies in India ' has developed insulin regulating tablets, and are also working in the oncology sector and have more than 100 innovation patents. The ' Scenario of Indian Biotech Industry ' is rosy and the congenial environment has resulted the following -
- About 85 biotech companies have been established (till 2002) in Karnataka.
- India has attracted, (especially Karnataka) maximum Venture Capital funding.
- Rapidly developing into "bio-cluster" with its center at Bangalore.
Francis Crick, Nobel Laureate, rightly commented on the opportunities of ' Biotech Companies in India ' that "The important thing is to be there when the picture is painted."
