Revenues from India's biotech industry exports grew by 47 per cent to reach $1.2 billion in the financial year ending March 2007, according to a survey.
The leading pharma companies, which contributed almost 27 percent of the industry revenue, are Serum Institute, Biocon and Panacea Biotec, according to the survey conducted by BioSpectrum, a journal published by the CyberMedia Group, along with Association of Biotechnology Led Enterprises (ABLE).
The industry introduced more than a dozen new products along with several new transgenic cottonseeds for the bio-agri sector.
According to the survey, as much as 400 firms would 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 per cent. The bioservices sector registered 53 per cent growth, the bioagri sector 55 per cent, and the bioinformatics and bioindustrial sectors recorded growth of 21 per cent 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.
Biocon's Syngene tied up with Bristol-Myers Squibb to provide research and development services for discovery and early drug development.