Indian biotech companies are increasingly exploring the possibilities of stepping up their business in the European countries, as per an assessment made by the Association of Biotechnology Led Enterprises (ABLE), the apex body of biotech companies in the country.
ABLE sources said that some companies are directly venturing into the European markets, while others are entering into partnerships for marketing and distribution of their products with local companies. The sources said that Indian players have great business opportunities in technology licensing and contract manufacturing in these markets.
Companies such as Bharat Biotech, Shantha Biotechnics and Ocimum Biosolutions are the latest entrants into the European market, sources said. The Hyderabad-based Bharat Biotech has entered into a licensing agreement with the Belgium-based ThromboGenics to manufacture and commercialisation of THR-100, a novel of recombinant Staphylokinase, in developing countries. Another Indian player Ocimum Biosolutions has acquired the biotech division of MWG Biotech, Germany and Oligo division of the Netherlands-based Isogen Life Sciences.
In an email reply to Pharmabiz, the ABLE spokesperson stated that the biotech exports have surpassed US$ 1.2 billion and it accounts for 58 per cent of the total revenues of the biotech industry. The export has registered a 47 per cent growth over the last fiscal and it is expected to increase with the growth of bioservices, bioinformatics and biopharma.
The association further stated that the Indian companies need to focus on research services, clinical trials, Bio-IT/ data management, biogenerics and manufacturing, vaccines and molecular diagnostics, as these are the emerging areas in the Indian biotech sector. Indian companies are leveraging their strengths and must now focus on building critical mass in their core areas.
Commenting on the government's role in the promotion of biotech industry in the country Association stated the Department of Biotechnology (DBT) is focused on providing an enabling environment to the Indian biotechnology industry. The regulatory framework for recombinant products has been considerably streamlined and has been effective since the 1st of April 2006. Policies for Infrastructure Development like the formation of Biotech Parks and special economic zones also help in sustaining the growth of the industry.