September 23, 2008

India's Biocon Ltd. makes it to the list of top 100 biotechnology companies in the world

Biocon Ltd. (BOM:532523), the leading Indian biotechnology company, has been ranked the seventh largest employer among the top 1000 global biotechnology companies around the world.

Med Ad News, one of the most respected journals in the field of biotechnology, published the list. For the list, the journal mainly considered drug producing firms for they are the key indicators of ongoing and emerging trends in the global pharmaceuticals market.

After the news came out, Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon Ltd. said that it is a matter of immense pride for Biocon to be ranked amongst the top global league of biotech companies. She further said:

"This is a validation of our consistent effort to attain global leadership. This also highlights the true potential of this sector in a country like India. This industry will be a key driver in India's progress towards economic development,"

In the list, the companies were ranked according to the number of employees and Biocon Ltd. is the only Asian company to be included in the list. In 2007, the number of employees working in Biocon was around 3,000 compared to 2543 in 2006. Biocon Ltd. has been ranked 20th in terms of revenue. Last year, the company earned $27 million in revenue. In terms of research and development, Biocon was obtained 88th position. In 2007, the company spent $11 million in R&D.

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