26 December 2012 | Opinion | By BioSpectrum Bureau
Dr Kiran Mazumdar-Shaw, CMD, Biocon, India
The year ahead holds immense promise for the Indian Biotech sector which is at an inflection point. The industry has leveraged the entrepreneurial spirit to build a strong foundation which has enabled the industry to grow at a CAGR of 20 percent for over a decade, growing to a size of $4 billion in 2011. The next year will see innovation taking center stage, driving significant progress in the areas of biosimilars & diagnostics for affordable healthcare, integrated traditional medicine, biomedical informatics, bio-fuels for less dependence on petroleum, bioremediation for environmental recovery, enhanced agricultural productivity and improved nutritional attributes.
Biopharma and the healthcare sector is the largest component of the Indian biotech industry and the most promising. It has the potential to carve out a large portion of the global biosimilars opportunity estimated to assume a size of $ 2.5 billion by 2015. The coming year will see collaborative trends gaining momentum with more co-development and marketing partnerships - between multinationals and the Indian companies as they seek to accelerate their growth by leveraging emerging markets.
We will see a surge in both biomanufacturing and bioservices partnerships which will enable innovative solutions for the world coming out of India. The increasing focus on genomics and proteomics in pharmaceutical research augers well for bioinformatics where India can position itself as a key hub of knowledge and expertise. With the excellent foundation, improved infrastructure, good quality talent and enabling regulatory environment, biotech has the potential to be the next technology beacon for the nation.
As for Biocon we are truly committed to provide affordable high quality biopharmaceuticals for chronic diseases particularly Diabetes, Cancer & Auto Immune diseases. We are on track to bring our second Novel Molecule, Itolizumab, an anti CD6 monoclonal antibody, to the market in India next year. For 2013, that will be the most significant achievement for Biocon and a great boon for Indian patients struggling to manage Psoriasis. We will also continue to focus on expanding our Insulin market in several emerging markets in Asia, Middle East North Africa, LATAM and Eastern Europe.