Monday, November 29, 1999

Mumbai, and not Bangalore, tops biotech chart

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Long hailed as the country's number one bio-technology hub, Bangalore has been outpaced by Mumbai in terms of revenue during the previous financial year, according to the eighth annual survey published by the industry body Association of Biotech Led Enterprises (ABLE) and biotech industry magazine BioSpectrum. With Rs 2,400 crore in revenue, Mumbai jumps ahead of Bangalore by a margin of Rs 200 crore.A spokesperson of BioSpectrum said, "One of the reasons why Bangalore fell behind Mumbai this year is there is a lot of work in Bangalore that is currently underway, and is yet to start generating revenues."Overall, the western part of the country comprising Maharashtra and Gujarat accounted for 46% of the sector's revenue. With 137 companies in the region, it clocked Rs 6,631 crore, increasing its share in overall revenue by 3% over 2008-2009.South India continues to be the largest biotech cluster with 172 companies. It added 9 such firms, the highest addition in the country during the year. However, it felt short in revenues compared to the west, posting Rs 5,537.88 crore and accounting for 39% of overall revenues.Kiran Mazumdar-Shaw's Biocon regained its top position on the list of biotech companies in the country replacing Pune-based vaccine maker Serum Institute.Biocon grew at 29.34% in 2009-10 to report revenues Rs 1180 crore, which put it at the number one spot after a gap of four years. Serum Institute clocked revenues of Rs 850 crore. Serum Institute, which produces one out of every two vaccines in the world, slipped to the second position owing to contract setbacks. Panacea Biotec, Nuziveedu Seeds and Reliance Life Sciences were ranked third, fourth and fifth, respectively.With the total revenue crossing the $3 billion dollar mark, the sector grew by 17% over the previous year as reported in the survey. Bio-pharma contributed three-fifth of the revenue at Rs 8,829 crore, followed by bio-services at Rs 2,639 crore and bio-agri at Rs 1,936 crore."Overall, there is a cautious optimism within the biotech industry and the recent government efforts to boost the infrastructure and support for various industry initiatives will bring succour for the industry," observes Narayanan Suresh, group editor of BioSpectrum.

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