Biocon unit to add $110 mn in sales
Kiran Mazumdar-Shaw said the new facility will make monoclonal antibodies for cancer and autoimmune diseases.india Updated: Apr 17, 2006 10:15 IST
Biotechnology firm Biocon Ltd expects its new facility to add Rs 5 billion ($110.6 million) each year to its sales by 2010, its chairwoman said on Monday.
"It will have a huge bottomline effect. These products are very profitable," Kiran Mazumdar-Shaw said in an interview.
The new facility will make monoclonal antibodies for cancer and autoimmune diseases. Biocon has invested nearly Rs 1 billion in the unit in Bangalore, which was inaugurated by Finance Minister Palaniappan Chidambaram.
The unit is the largest cell culture facility in India, she said.
Monoclonal antibodies are emerging as the fastest growing segment especially in treatment of cancer and diseases like rheumatoid arthritis.
There are about 18 monoclonal antibodies approved globally for therapeutic use with a market size of $15 billion, which is expected to double by 2010.
In India, there are about 3 million cancer patients, and the incidence of cancer is growing by 700,000 each year.
Of these, nearly 230,000 are tobacco-related and occur in the neck and head region, Majumdar-Shaw said.